Question 1

Under the Subordination Clause of the United States Constitution,treaties become part of the "law of the land," and conflicting state or local law is void.

Accepted Answer

A) True 
 B)False  False

Question 2

Which of the following is currently proposed but not yet in existence?

Accepted Answer

A)  the Free Trade Area of the Americas 
B)  the Central America Free Trade Agreement 
C)  the Association of South East Asian Nations 
D)  the North America Free Trade Association 
E)  the World Trade Organization 
A)  the Free Trade Area of the Americas 
B)  the Central America Free Trade Agreement 
C)  the Association of South East Asian Nations 
D)  the North America Free Trade Association 
E)  the World Trade Organization A

Question 3

The International Court of Justice is located in Geneva,Switzerland.

Accepted Answer

A) True 
 B)False  False

Question 4

A "choice of forum" clause automatically determines that the forum nation's laws are applied in settling a dispute.

Accepted Answer

A) True 
 B)False

Question 5

The euro can be used in all countries of the eurozone.

Accepted Answer

A) True 
 B)False

Question 6

The United Nations is headquartered in ________.

Accepted Answer

A)  Geneva, Switzerland 
B)  Frankfurt, Germany 
C)  Paris, France 
D)  New York, New York 
E)  Yalta, Ukraine (Russia) 
A)  Geneva, Switzerland 
B)  Frankfurt, Germany 
C)  Paris, France 
D)  New York, New York 
E)  Yalta, Ukraine (Russia)

Question 7

"Multilateral" treaties are between two nations,while "bilateral" treaties involve more than two nations.

Accepted Answer

A) True 
 B)False

Question 8

What can a nation do if it disagrees with a decision made by the dispute-settlement body of the World Trade Organization?

Accepted Answer

A)  appeal to the World Court 
B)  nothing, as such a decision is final 
C)  appeal to that particular nation's own national court system 
D)  appeal to the appellate body within the World Trade Organization 
E)  appeal to the International Criminal Court 
A)  appeal to the World Court 
B)  nothing, as such a decision is final 
C)  appeal to that particular nation's own national court system 
D)  appeal to the appellate body within the World Trade Organization 
E)  appeal to the International Criminal Court

Question 9

The UN General Assembly is composed of fifteen (15)member nations,five (5)of which are permanent members.

Accepted Answer

A) True 
 B)False

Question 10

The North American Free Trade Agreement includes strict provisions in favor of environmental protection,applicable to all three (3)of its trading bloc nations.

Accepted Answer

A) True 
 B)False

Question 11

The World Trade Organization was created as part of:

Accepted Answer

A)  the United Nations. 
B)  the North American Free Trade Agreement. 
C)  the International Monetary Fund. 
D)  negotiations on the General Agreement on Tariffs and Trade. 
E)  the European Union. 
A)  the United Nations. 
B)  the North American Free Trade Agreement. 
C)  the International Monetary Fund. 
D)  negotiations on the General Agreement on Tariffs and Trade. 
E)  the European Union.

Question 12

Brittany and Lindsay are American citizens on spring break in Mexico.After a hard night of partying,they are arrested and put in jail.They reside in a state that has legalized marijuana and considers public nudity a violation subject only to a fine.In Mexico,the drug charge is a felony,and public nudity is a misdemeanor.They are each sentenced to five years in a Mexican prison.Their parents petition the United States government to intervene on behalf of the young women and demand that Mexico release them.What is the likely outcome?

Accepted Answer

A)  The young women are guilty under the Foreign Corrupt Practices Act because they broke the law in a foreign country. 
B)  The "act of state" doctrine will prevail, and the United States will not be permitted to challenge an act of Mexico in enforcing its own laws. 
C)  The International Court of Justice will intervene to assure justice. 
D)  The United Nations may be petitioned to conduct an international arbitration proceeding to assure justice. 
E)  The criminal provisions of the North American Free Trade Agreement will be applied to ensure justice. 
A)  The young women are guilty under the Foreign Corrupt Practices Act because they broke the law in a foreign country. 
B)  The "act of state" doctrine will prevail, and the United States will not be permitted to challenge an act of Mexico in enforcing its own laws. 
C)  The International Court of Justice will intervene to assure justice. 
D)  The United Nations may be petitioned to conduct an international arbitration proceeding to assure justice. 
E)  The criminal provisions of the North American Free Trade Agreement will be applied to ensure justice.

Question 13

Negotiators from which nations signed the North American Free Trade Agreement in 1992?

Accepted Answer

A)  the United States and Canada 
B)  the United States and Mexico 
C)  the United States, Canada and Mexico 
D)  the United States, Mexico and Panama 
E)  the United States, Canada, Mexico, Guatemala and Panama 
A)  the United States and Canada 
B)  the United States and Mexico 
C)  the United States, Canada and Mexico 
D)  the United States, Mexico and Panama 
E)  the United States, Canada, Mexico, Guatemala and Panama

Question 14

The United States has a dispute with a foreign country that failed to pay for diplomatic office space leased to it by the United States government.The United States brings an action against the foreign country for the past-due rent payments.The foreign country seeks a dismissal of the complaint,based upon the doctrine of sovereign immunity.Discuss the doctrine of sovereign immunity,the manner in which it is applied in the United States,any exceptions to the doctrine of sovereign immunity,and who should win the dispute.

Accepted Answer

Under the doctrine of sovereign immunity

Question 15

Which of the following is true regarding the General Assembly of the United Nations?

Accepted Answer

A)  It is composed of ten member nations. 
B)  Its resolutions are normally enforced militarily. 
C)  It is the legislative body of the United Nations. 
D)  It administers to the day-to-day operations of the United Nations. 
E)  It adopts resolutions related to trade, finance and economics, but does not adopt resolutions related to human rights. 
A)  It is composed of ten member nations. 
B)  Its resolutions are normally enforced militarily. 
C)  It is the legislative body of the United Nations. 
D)  It administers to the day-to-day operations of the United Nations. 
E)  It adopts resolutions related to trade, finance and economics, but does not adopt resolutions related to human rights.

Question 16

The World Bank provides money to developing countries to fund projects for humanitarian purposes and to relieve poverty.

Accepted Answer

A) True 
 B)False

Question 17

The United States Constitution does not vest exclusive power over foreign affairs in the federal government.

Accepted Answer

A) True 
 B)False

Question 18

The World Bank provides money:

Accepted Answer

A)  to developing nations, in order to encourage military operations. 
B)  to developed nations, in order to encourage research into banking and economics. 
C)  to developed nations, in order to cover travel expenses to meetings of the United Nations. 
D)  to developing nations only, in the form of loans, and never through outright grants. 
E)  to developing nations, in order to fund projects for humanitarian purposes, and to relieve poverty. 
A)  to developing nations, in order to encourage military operations. 
B)  to developed nations, in order to encourage research into banking and economics. 
C)  to developed nations, in order to cover travel expenses to meetings of the United Nations. 
D)  to developing nations only, in the form of loans, and never through outright grants. 
E)  to developing nations, in order to fund projects for humanitarian purposes, and to relieve poverty.

Question 19

The World Court is the executive branch of the United Nations.

Accepted Answer

A) True 
 B)False

Question 20

The ________ administers the day-to-day operations of the United Nations.

Accepted Answer

A)  UN Administrative Council 
B)  UN Executive Council 
C)  Secretariat 
D)  commandant-general 
E)  attaché-general 
A)  UN Administrative Council 
B)  UN Executive Council 
C)  Secretariat 
D)  commandant-general 
E)  attaché-general

Exam 41: International and World Trade Law

Under the Subordination Clause of the United States Constitution,treaties become part of the "law of the land," and conflicting state or local law is void.

Which of the following is currently proposed but not yet in existence?

The International Court of Justice is located in Geneva,Switzerland.

A "choice of forum" clause automatically determines that the forum nation's laws are applied in settling a dispute.

The euro can be used in all countries of the eurozone.

The United Nations is headquartered in ________.

"Multilateral" treaties are between two nations,while "bilateral" treaties involve more than two nations.

What can a nation do if it disagrees with a decision made by the dispute-settlement body of the World Trade Organization?

The UN General Assembly is composed of fifteen (15)member nations,five (5)of which are permanent members.

The North American Free Trade Agreement includes strict provisions in favor of environmental protection,applicable to all three (3)of its trading bloc nations.

The World Trade Organization was created as part of:

Negotiators from which nations signed the North American Free Trade Agreement in 1992?

Which of the following is true regarding the General Assembly of the United Nations?

The World Bank provides money to developing countries to fund projects for humanitarian purposes and to relieve poverty.

The United States Constitution does not vest exclusive power over foreign affairs in the federal government.

The World Bank provides money:

The World Court is the executive branch of the United Nations.

The ________ administers the day-to-day operations of the United Nations.

Legal Heritage and the Information Age

Constitutional Law for Business and E-Commerce

Courts and Jurisdiction

Judicial, Alternative, Administrative, and E-Dispute Resolution

Torts and Strict Liability

Criminal Law and Cyber Crimes

Intellectual Property and Cyber Piracy

Ethics and Social Responsibility of Business

Nature of Traditional and E-Contracts

Agreement and Consideration

Capacity and Legality

Genuineness of Assent and Statute of Frauds

Third-Party Rights and Discharge

Breach of Contract and Remedies

Digital Law and E-Commerce

Formation of Sales, Lease, and E-Contracts

Performance of Sales, Leases and E-Contracts

Remedies for Breach of Sales and Lease Contracts

Warranties and Product Liability

Creation and Transfer of Negotiable Instruments

Holder in Due Course and Liability of Parties

Banking System, E-Money, and Financial Reform

Credit and Secured Transactions

Bankruptcy and Reorganization

Agency Law

Small Business, Entrepreneurship, and Partnerships

Corporate Formation and Financing

Corporate Governance and Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Company and Limited Liability Partnership

Franchise and Special Forms of Business

Investor Protection,E-Securities Transactions,and Wall Street Reform

Antitrust Law

Consumer Safety, Consumer Financial Protection, and Environmental Protection

Labor, Worker Protection, Employment, and Immigration Law

Equal Opportunity in Employment

Personal Property, Bailment, and Insurance

Real Property, Landlord-Tenant Law, and Land Use Regulation

Family Law, Wills, and Trusts

Accountants' Liability

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