Question 1

Rabbinic jurisprudence is administered by rabbi-judges sitting as the Beis Din.

Accepted Answer

A) True 
 B)False

Question 2

What does the act of state doctrine assert?

Accepted Answer

A general principle of international law

Question 3

Which of the following statements is true of the Treaty Clause?

Accepted Answer

A) It provides that the president can make treaties on his own accord autonomously. 
B) It provides that the president can enter into treaties with two-thirds senate approval. 
C) It provides that the states have exclusive power to regulate internal and foreign affairs. 
D) It provides that the federal government has supremacy over the state in matters of international trade. 
A) It provides that the president can make treaties on his own accord autonomously. 
B) It provides that the president can enter into treaties with two-thirds senate approval. 
C) It provides that the states have exclusive power to regulate internal and foreign affairs. 
D) It provides that the federal government has supremacy over the state in matters of international trade.

Question 4

The ________ is a trilateral treaty that has removed or reduced tariffs, duties, quotas, and other trade barriers between the United States, Canada, and Mexico.

Accepted Answer

A) Free Trade Area of the Americas Treaty 
B) North American Free Trade Agreement 
C) Central America Free Trade Agreement 
D) General Agreement on Tariffs and Trade 
A) Free Trade Area of the Americas Treaty 
B) North American Free Trade Agreement 
C) Central America Free Trade Agreement 
D) General Agreement on Tariffs and Trade

Question 5

A choice of law clause is a mandatory clause that should be present in every international contract.

Accepted Answer

A) True 
 B)False

Question 6

The North American Free Trade Agreement (NAFTA)includes special protection for favored industries that have a lot of lobby muscle.

Accepted Answer

A) True 
 B)False

Question 7

________ is a regional international organization that comprises many countries of Western and Eastern Europe and was created to promote peace and security as well as economic, social, and cultural development.

Accepted Answer

A) European Economic Community 
B) Common Market 
C) North Atlantic Treaty Organization 
D) European Union 
A) European Economic Community 
B) Common Market 
C) North Atlantic Treaty Organization 
D) European Union

Question 8

The euro can only be used in countries that are part of the eurozone.

Accepted Answer

A) True 
 B)False

Question 9

The secretary-general of the UN is elected by the Security Council.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements is true of the NAFTA?

Accepted Answer

A) It allows a member country to reimpose tariffs if imports are hurting that country's economy or its workers. 
B) It disallows any special protection being extended to specific industries. 
C) It disallows NAFTA members from trading with other countries unless a unanimous permission is obtained. 
D) It has been hailed by economists to be a perfect example of a free trade pact. 
A) It allows a member country to reimpose tariffs if imports are hurting that country's economy or its workers. 
B) It disallows any special protection being extended to specific industries. 
C) It disallows NAFTA members from trading with other countries unless a unanimous permission is obtained. 
D) It has been hailed by economists to be a perfect example of a free trade pact.

Question 11

The Code of Canon Law of 1983 stipulates the code of conduct to be followed by all Christians around the world.

Accepted Answer

A) True 
 B)False

Question 12

What is the role of the WTO dispute settlement body?

Accepted Answer

A) to hear appeals on decisions made on a dispute 
B) to create panel reports on the findings of the dispute 
C) to hear the dispute settlement from the plaintiff 
D) to review panel reports and adopt them if necessary 
A) to hear appeals on decisions made on a dispute 
B) to create panel reports on the findings of the dispute 
C) to hear the dispute settlement from the plaintiff 
D) to review panel reports and adopt them if necessary

Question 13

Which of the following is true of the Islamic law of Shari'a ?

Accepted Answer

A) The Shari'a disallows making a reasonable profit from the sale of goods and services. 
B) All Islamic countries strictly follow the complete Shari'a to govern all aspects of life. 
C) The Shari'a encourages riba through the strict payment and collection of interest on loans within stipulated periods of time. 
D) The Shari'a is primarily used in the areas of marriage, divorce, and inheritance and, to a limited degree, criminal law. 
A) The Shari'a disallows making a reasonable profit from the sale of goods and services. 
B) All Islamic countries strictly follow the complete Shari'a to govern all aspects of life. 
C) The Shari'a encourages riba through the strict payment and collection of interest on loans within stipulated periods of time. 
D) The Shari'a is primarily used in the areas of marriage, divorce, and inheritance and, to a limited degree, criminal law.

Question 14

Individuals and businesses can directly approach the International Court of Justice to fight a case involving international contracts.

Accepted Answer

A) True 
 B)False

Question 15

By default, a case involving an international dispute is prosecuted only in ________.

Accepted Answer

A) the International Court of Justice 
B) a court in the defendant's country 
C) a court in the plaintiff's country 
D) a court in a neutral country 
A) the International Court of Justice 
B) a court in the defendant's country 
C) a court in the plaintiff's country 
D) a court in a neutral country

Question 16

________ is a rule which states that judges of one country cannot question the validity of an act committed by another country within that other country's borders.

Accepted Answer

A) Doctrine of sovereign immunity 
B) Act of state doctrine 
C) Colgate Doctrine 
D) Noerr Doctrine 
A) Doctrine of sovereign immunity 
B) Act of state doctrine 
C) Colgate Doctrine 
D) Noerr Doctrine

Question 17

In case of a breach in trade agreements of the World Trade Organization (WTO), which of the following WTO bodies first hears the dispute?

Accepted Answer

A) the WTO panel 
B) the WTO appellate body 
C) the WTO dispute settlement body 
D) the WTO General Council 
A) the WTO panel 
B) the WTO appellate body 
C) the WTO dispute settlement body 
D) the WTO General Council

Question 18

________ is a clause in an international contract that designates which nation's laws will be applied in deciding a dispute arising out of the contract.

Accepted Answer

A) Equal Protection Clause 
B) Supremacy Clause 
C) Forum-selection clause 
D) Choice of law clause 
A) Equal Protection Clause 
B) Supremacy Clause 
C) Forum-selection clause 
D) Choice of law clause

Question 19

The ________ is an international organization of 153 member nations created in 1995 to promote and enforce trade agreements among member countries and customs territories.

Accepted Answer

A) World Trade Organization 
B) International Monetary Fund 
C) North American Free Trade Commission 
D) General Agreement on Tariffs and Trade 
A) World Trade Organization 
B) International Monetary Fund 
C) North American Free Trade Commission 
D) General Agreement on Tariffs and Trade

Question 20

The ________ is a body that prosecutes cases that nations refer to it as well as cases involving treaties and the UN Charter.

Accepted Answer

A) Security Council 
B) General Assembly 
C) International Court of Justice 
D) International Monetary Fund 
A) Security Council 
B) General Assembly 
C) International Court of Justice 
D) International Monetary Fund

Exam 54: International and World Trade Law

Rabbinic jurisprudence is administered by rabbi-judges sitting as the Beis Din.

What does the act of state doctrine assert?

Which of the following statements is true of the Treaty Clause?

The ________ is a trilateral treaty that has removed or reduced tariffs, duties, quotas, and other trade barriers between the United States, Canada, and Mexico.

A choice of law clause is a mandatory clause that should be present in every international contract.

The North American Free Trade Agreement (NAFTA)includes special protection for favored industries that have a lot of lobby muscle.

________ is a regional international organization that comprises many countries of Western and Eastern Europe and was created to promote peace and security as well as economic, social, and cultural development.

The euro can only be used in countries that are part of the eurozone.

The secretary-general of the UN is elected by the Security Council.

Which of the following statements is true of the NAFTA?

The Code of Canon Law of 1983 stipulates the code of conduct to be followed by all Christians around the world.

What is the role of the WTO dispute settlement body?

Which of the following is true of the Islamic law of Shari'a ?

Individuals and businesses can directly approach the International Court of Justice to fight a case involving international contracts.

By default, a case involving an international dispute is prosecuted only in ________.

________ is a rule which states that judges of one country cannot question the validity of an act committed by another country within that other country's borders.

In case of a breach in trade agreements of the World Trade Organization (WTO), which of the following WTO bodies first hears the dispute?

________ is a clause in an international contract that designates which nation's laws will be applied in deciding a dispute arising out of the contract.

The ________ is an international organization of 153 member nations created in 1995 to promote and enforce trade agreements among member countries and customs territories.

The ________ is a body that prosecutes cases that nations refer to it as well as cases involving treaties and the UN Charter.

Legal Heritage and the Digital Age

Courts and Jurisdiction

Judicial,Alternative,and E-Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crimes

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

E-Commerce and Digital Law

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, Defenses, and Discharge

Banks, E-Money, and Financial Reform

Credit,Mortgages,and Debtor's Rights

Secured Transactions and E-Filing

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, Agents, and Independent Contractors

Employment, Worker Protection, and Immigration Law

Labor Law and Collective Bargaining

Equal Opportunity in Employment

Small Business, Entrepreneurship, and General Partnerships

Limited Partnerships and Special Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, E-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

Personal Property and Bailment

Real Property

Landlord-Tenant Law and Land Use Regulation

Insurance

Accountants' Duties and Liability

Wills Trusts and Estates

Family Law

Filters