Question 1

Under the doctrine of sovereign immunity,________ are granted immunity from suits in courts in other countries.

Accepted Answer

A)  intellectual property violators 
B)  individuals 
C)  businesses 
D)  countries 
E)  individuals, businesses and countries 
A)  intellectual property violators 
B)  individuals 
C)  businesses 
D)  countries 
E)  individuals, businesses and countries

Question 2

Under international law,what is the difference between a treaty and a convention?

Accepted Answer

A)  A treaty is an agreement, and a convention is typically the meeting at which the treaty was drafted. 
B)  The two terms have the same meaning; thus, there is no difference between them. 
C)  A treaty is an agreement negotiated directly be the signatory nations, while a convention is first drafted by a sponsoring international organization, after which nations can decide whether to be bound by it. 
D)  Conventions usually have only a few signatory nations, while treaties usually have many. 
E)  A convention is a treaty signed by at least four nations, while a treaty is signed by fewer than four nations. 
A)  A treaty is an agreement, and a convention is typically the meeting at which the treaty was drafted. 
B)  The two terms have the same meaning; thus, there is no difference between them. 
C)  A treaty is an agreement negotiated directly be the signatory nations, while a convention is first drafted by a sponsoring international organization, after which nations can decide whether to be bound by it. 
D)  Conventions usually have only a few signatory nations, while treaties usually have many. 
E)  A convention is a treaty signed by at least four nations, while a treaty is signed by fewer than four nations.

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is correct about the states' powers regarding foreign affairs?

Accepted Answer

A)  The states have no power over foreign affairs, because the United States Constitution grants that power exclusively to the federal government. 
B)  The states can pass laws and enter into treaties with foreign nations, so long as they do not unduly burden foreign commerce. 
C)  The states can pass laws affecting foreign commerce and enter into treaties with foreign nations, so long as they first obtain the consent of the United States Senate. 
D)  The states can pass laws so long as they do not unduly burden foreign commerce, but the states have no authority to enter into treaties with foreign nations. 
E)  Because of the sharing of powers between the federal government and the states, states have powers over foreign affairs equal to the powers of the federal government. 
A)  The states have no power over foreign affairs, because the United States Constitution grants that power exclusively to the federal government. 
B)  The states can pass laws and enter into treaties with foreign nations, so long as they do not unduly burden foreign commerce. 
C)  The states can pass laws affecting foreign commerce and enter into treaties with foreign nations, so long as they first obtain the consent of the United States Senate. 
D)  The states can pass laws so long as they do not unduly burden foreign commerce, but the states have no authority to enter into treaties with foreign nations. 
E)  Because of the sharing of powers between the federal government and the states, states have powers over foreign affairs equal to the powers of the federal government.

Question 5

Two member nations of the World Trade Organization have a trade dispute.One of the nations has properly instituted a proceeding before the World Trade Organization in an attempt to obtain relief.Discuss how the case will proceed,and whether there are any rights of appeal once the World Trade Organization panel has rendered its decision.

Accepted Answer

The case would first be heard by a three

Question 6

The World Bank is a United Nations agency that comprises eighteen (18)member nations.

Accepted Answer

A) True 
 B)False

Question 7

Nations,individuals,or businesses can have cases decided by the World Court.

Accepted Answer

A) True 
 B)False

Question 8

In order to prevent bias,international disputes generally cannot be heard by the national courts of any party to the dispute.

Accepted Answer

A) True 
 B)False

Question 9

What is the purpose of a "choice of forum" clause in an international contract?

Accepted Answer

A)  to give the parties a choice of nations in which to bring a lawsuit under the contract 
B)  to determine in advance where any lawsuit arising from the contract will be brought 
C)  to determine who will choose the location where any lawsuit arising from the contract will be brought 
D)  to determine which nation's law will apply in settling disputes that arise under the contract 
E)  to limit the plaintiff's choice of remedy 
A)  to give the parties a choice of nations in which to bring a lawsuit under the contract 
B)  to determine in advance where any lawsuit arising from the contract will be brought 
C)  to determine who will choose the location where any lawsuit arising from the contract will be brought 
D)  to determine which nation's law will apply in settling disputes that arise under the contract 
E)  to limit the plaintiff's choice of remedy

Question 10

Japan belongs to the Association of Southeast Asian Nations,but China does not.

Accepted Answer

A) True 
 B)False

Question 11

Treaties are entered into by the president of the United States,and must be approved by a two-thirds vote of the United States Congress.

Accepted Answer

A) True 
 B)False

Question 12

The WTO dispute settlement body is required to adopt the WTO panel report unless the body,by consensus,agrees not to adopt it.

Accepted Answer

A) True 
 B)False

Question 13

The World Trade Organization was established by the United Nations in 1995.

Accepted Answer

A) True 
 B)False

Question 14

The WTO is an international organization whose headquarters is located in Geneva,Switzerland.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is true about the International Court of Justice?

Accepted Answer

A)  It is the appellate court for decisions of the World Court. 
B)  It can hear cases involving governments, businesses or individuals of nations that are members of the United Nations. 
C)  No nation can have more than one judge among the fifteen sitting judges. 
D)  A nation that is a party to a dispute before the International Court of Justice may appoint one judge on an "ad hoc" basis for the particular case. 
E)  It is located in Washington, D.C. 
A)  It is the appellate court for decisions of the World Court. 
B)  It can hear cases involving governments, businesses or individuals of nations that are members of the United Nations. 
C)  No nation can have more than one judge among the fifteen sitting judges. 
D)  A nation that is a party to a dispute before the International Court of Justice may appoint one judge on an "ad hoc" basis for the particular case. 
E)  It is located in Washington, D.C.

Question 16

Which of the following is not true about the European Union?

Accepted Answer

A)  A common currency has been introduced. 
B)  The European Union has established the EU Commission and delegated certain powers to it, including the authority to enact legislation, and to take enforcement actions to ensure member compliance with the treaty. 
C)  A majority vote is needed to admit a new member. 
D)  The gross economic output of European Union nations is greater than that of the United States. 
E)  The European Union was created in 1957. 
A)  A common currency has been introduced. 
B)  The European Union has established the EU Commission and delegated certain powers to it, including the authority to enact legislation, and to take enforcement actions to ensure member compliance with the treaty. 
C)  A majority vote is needed to admit a new member. 
D)  The gross economic output of European Union nations is greater than that of the United States. 
E)  The European Union was created in 1957.

Question 17

A farmer's cooperative in North Dakota enters into a contract to sell wheat to the government of Thailand.If a dispute arises under the contract,the farmers' cooperative can:

Accepted Answer

A)  sue in a United States court, because neither the act of state doctrine nor sovereign immunity would apply. 
B)  not sue in a United States court, because of the act of state doctrine. 
C)  not sue in a United States court, because of sovereign immunity. 
D)  not sue in a United States court, because of comity. 
E)  not sue in a United States court, because of international sovereignty. 
A)  sue in a United States court, because neither the act of state doctrine nor sovereign immunity would apply. 
B)  not sue in a United States court, because of the act of state doctrine. 
C)  not sue in a United States court, because of sovereign immunity. 
D)  not sue in a United States court, because of comity. 
E)  not sue in a United States court, because of international sovereignty.

Question 18

Payment of interest on loans is prohibited under Hindu law.

Accepted Answer

A) True 
 B)False

Question 19

The International Court of Justice is also called the League of Nations.

Accepted Answer

A) True 
 B)False

Question 20

The WTO has been referred to as the World Congress of Trade.

Accepted Answer

A) True 
 B)False

Exam 41: International and World Trade Law

Under the doctrine of sovereign immunity,________ are granted immunity from suits in courts in other countries.

Under international law,what is the difference between a treaty and a convention?

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

Which of the following is correct about the states' powers regarding foreign affairs?

The World Bank is a United Nations agency that comprises eighteen (18)member nations.

Nations,individuals,or businesses can have cases decided by the World Court.

In order to prevent bias,international disputes generally cannot be heard by the national courts of any party to the dispute.

What is the purpose of a "choice of forum" clause in an international contract?

Japan belongs to the Association of Southeast Asian Nations,but China does not.

Treaties are entered into by the president of the United States,and must be approved by a two-thirds vote of the United States Congress.

The WTO dispute settlement body is required to adopt the WTO panel report unless the body,by consensus,agrees not to adopt it.

The World Trade Organization was established by the United Nations in 1995.

The WTO is an international organization whose headquarters is located in Geneva,Switzerland.

Which of the following is true about the International Court of Justice?

Which of the following is not true about the European Union?

A farmer's cooperative in North Dakota enters into a contract to sell wheat to the government of Thailand.If a dispute arises under the contract,the farmers' cooperative can:

Payment of interest on loans is prohibited under Hindu law.

The International Court of Justice is also called the League of Nations.

The WTO has been referred to as the World Congress of Trade.

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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