Question 1

When a treaty and a right declared under a subsequent federal statute conflict,the treaty must prevail.

Accepted Answer

A) True 
 B)False

Question 2

The United Nations Convention on the Law of the Sea (UNCLOS)establishes a comprehensive set of rules governing all uses of the oceans and their resources.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true with regard to securities regulation?

Accepted Answer

A)  Foreign issuers who issue securities in the United States are exempt from the registration requirements of the 1933 Act. 
B)  Some foreign issuers may avoid registration under the 1934 Act by providing the SEC with copies of all information material to investors that they have made public in their home country. 
C)  Antifraud provisions of U.S.securities laws do not apply to securities sold in foreign commerce if the courts have found either conduct or effects in the U.S.relating to a violation of securities law. 
D)  U.S.securities laws have no application to foreign issuers. 
A)  Foreign issuers who issue securities in the United States are exempt from the registration requirements of the 1933 Act. 
B)  Some foreign issuers may avoid registration under the 1934 Act by providing the SEC with copies of all information material to investors that they have made public in their home country. 
C)  Antifraud provisions of U.S.securities laws do not apply to securities sold in foreign commerce if the courts have found either conduct or effects in the U.S.relating to a violation of securities law. 
D)  U.S.securities laws have no application to foreign issuers.

Question 4

Assume that Denmark,a member of the European Union,is contemplating the enactment of a protective tariff for its fledgling CD industry due to domestic political and economic pressures.Assume further that the EU has a tariff that it has also enacted for all CD manufacturers within the EU that is considerably lower than the one that is being proposed in Denmark.The policy behind the lower EU tariff is to promote freer trade even at the risk of destroying some of the weaker manufacturers in that organization.In this situation:

Accepted Answer

A)  Denmark could enact the higher tariff since EU members give up no authority to the organization in regulating trade and business practices. 
B)  Generally,when EU economic policies and rules conflict with the laws of member nations,EU law will prevail.Thus,Denmark's tariff may be illegal. 
C)  Denmark could petition the United Nations Council of Economic Policy and if it concurs with Denmark,the EU tariff policy would be overridden. 
D)  Assuming Denmark is a signatory to WTO,it could retain its higher tariff since the purpose of WTO is to protect domestic industries by promoting higher tariffs. 
A)  Denmark could enact the higher tariff since EU members give up no authority to the organization in regulating trade and business practices. 
B)  Generally,when EU economic policies and rules conflict with the laws of member nations,EU law will prevail.Thus,Denmark's tariff may be illegal. 
C)  Denmark could petition the United Nations Council of Economic Policy and if it concurs with Denmark,the EU tariff policy would be overridden. 
D)  Assuming Denmark is a signatory to WTO,it could retain its higher tariff since the purpose of WTO is to protect domestic industries by promoting higher tariffs.

Question 5

The European Community was formed through a merger between the Common Market,the European Coal and Steel Community,and the European Atomic Energy Community.

Accepted Answer

A) True 
 B)False

Question 6

Define and discuss the doctrine of "sovereign immunity." Discuss the Foreign Sovereign Immunities Act of 1976.

Accepted Answer

Sovereign immunity is the absolute immun

Question 7

Azurapi Corporation plans to start marketing products worldwide.What forms of multinational business enterprise are available? What factors should influence the decision on the form to use?

Accepted Answer

Possibilities include the use of a wholl

Question 8

Wholly owned subsidiaries offer protection to businesses and their technology while doing business in the international sector.

Accepted Answer

A) True 
 B)False

Question 9

One risk of investing in foreign states is the risk that the host nation's government may take the investment property.

Accepted Answer

A) True 
 B)False

Question 10

The European Community (EC)preceded the European Union (EU)and worked to remove trade barriers between member nations.

Accepted Answer

A) True 
 B)False

Question 11

International courts have compulsory jurisdiction to resolve international disputes,and they have the authority to resolve an international dispute even if the parties to the dispute do not specifically accept the court's jurisdiction over the matter.

Accepted Answer

A) True 
 B)False

Question 12

Parties to an international sales contract may not exclude CISG governance from their contract.

Accepted Answer

A) True 
 B)False

Question 13

The World Trade Organization (WTO):

Accepted Answer

A)  is an agency providing insurance to firms involved in international trade. 
B)  is a general international antitrust agreement. 
C)  seeks to facilitate the flow of trade by establishing agreements on potential trade barriers. 
D)  has successfully rid international trade of tariffs. 
A)  is an agency providing insurance to firms involved in international trade. 
B)  is a general international antitrust agreement. 
C)  seeks to facilitate the flow of trade by establishing agreements on potential trade barriers. 
D)  has successfully rid international trade of tariffs.

Question 14

International law is derived from the Code of Federal Regulations and international legal tribunals.

Accepted Answer

A) True 
 B)False

Question 15

A foreign agent is used by multinational enterprises to take title to merchandise and bear the risks connected with international sales.

Accepted Answer

A) True 
 B)False

Exam 46: International Business Law

When a treaty and a right declared under a subsequent federal statute conflict,the treaty must prevail.

The United Nations Convention on the Law of the Sea (UNCLOS)establishes a comprehensive set of rules governing all uses of the oceans and their resources.

Which of the following is true with regard to securities regulation?

The European Community was formed through a merger between the Common Market,the European Coal and Steel Community,and the European Atomic Energy Community.

Define and discuss the doctrine of "sovereign immunity." Discuss the Foreign Sovereign Immunities Act of 1976.

Azurapi Corporation plans to start marketing products worldwide.What forms of multinational business enterprise are available? What factors should influence the decision on the form to use?

Wholly owned subsidiaries offer protection to businesses and their technology while doing business in the international sector.

One risk of investing in foreign states is the risk that the host nation's government may take the investment property.

The European Community (EC)preceded the European Union (EU)and worked to remove trade barriers between member nations.

International courts have compulsory jurisdiction to resolve international disputes,and they have the authority to resolve an international dispute even if the parties to the dispute do not specifically accept the court's jurisdiction over the matter.

Parties to an international sales contract may not exclude CISG governance from their contract.

The World Trade Organization (WTO):

International law is derived from the Code of Federal Regulations and international legal tribunals.

A foreign agent is used by multinational enterprises to take title to merchandise and bear the risks connected with international sales.

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

A: Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance,breach,and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits,collections,and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature,formation,and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection Double

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

Introduction to Property,property Insurance,bailments,and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Decedents Estates

Legal Terminology: Understanding Criminal and Civil Law Systems

Contract Law Terminology

Exploring the Legal Concepts of Agency and Fiduciary Duty

Understanding Key Legal Concepts in Sales and Contracts

Understanding the Terminology of Banking and Finance: Key Concepts and Definitions

Exploring Legal Concepts and Processes in Business Partnerships

Understanding Corporate Law: A Guide to Ultra Vires Acts, Subscribers, Debt Securities, and More

Understanding Key Terms in Secured Transactions and Bankruptcy Law

Legal Topics and Terms

Legal Topics in Property Ownership and Management

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