Question 1

Most western European countries use the "American rule" whereby each party,win or lose,generally pays its own attorney fees.

Accepted Answer

A) True 
 B)False

Question 2

What is the principle of comity? What conditions must usually exist for the principle to be applied?

Accepted Answer

Under the principle of comity,a court wi

Question 3

________ law legal systems primarily rely on case law and precedents.

Accepted Answer

A)  Common 
B)  Civil 
C)  Statutory 
D)  Codified 
A)  Common 
B)  Civil 
C)  Statutory 
D)  Codified

Question 4

Set forth the seven principle European Institutions primarily responsible for governing the European Union.

Accepted Answer

The seven institutions primarily respons

Question 5

What is the act-of-state doctrine,and how is it generally applied by U.S.courts?

Accepted Answer

The act-of-state doctrine applies to the

Question 6

The traditional Islamic rules and laws that regulate Muslim life are called Sharia.

Accepted Answer

A) True 
 B)False

Question 7

In a series of laws,known collectively as the ________ laws,Congress has authorized the President to raise U.S.tariffs on specified products and to provide other forms of import protection to U.S.businesses.

Accepted Answer

A)  export-relief 
B)  domestic-relief 
C)  import-relief 
D)  international-relief 
A)  export-relief 
B)  domestic-relief 
C)  import-relief 
D)  international-relief

Question 8

Senator Smith is tired of all the imports of televisions coming into this country. He proposes a bill by which all foreign-made televisions will be taxed an additional $100 before being allowed into the country. He receives a great deal of support for his bill,but one senator questions whether such an arrangement is illegal since it will discriminate against imported goods. Which of the following is correct?

Accepted Answer

A)  There is no problem with the additional tax because the U.S. is a sovereign nation. 
B)  There is no problem with the tax so long as it can be shown that American jobs are being lost due to the number of televisions being imported. 
C)  Under the principle of national treatment, the U.S., as a member of the World Trade Organization, may not discriminate against imported goods and may not apply the tax unless it is also applied equally to domestic products. 
D)  The tax may not be imposed under the Uniform Trade Initiative. 
A)  There is no problem with the additional tax because the U.S. is a sovereign nation. 
B)  There is no problem with the tax so long as it can be shown that American jobs are being lost due to the number of televisions being imported. 
C)  Under the principle of national treatment, the U.S., as a member of the World Trade Organization, may not discriminate against imported goods and may not apply the tax unless it is also applied equally to domestic products. 
D)  The tax may not be imposed under the Uniform Trade Initiative.

Question 9

Connie owns a retail establishment that sells electronics. She does a lot of business with Company ABC in Japan. Connie does not want to learn Japanese law or travel to Japan in the event of a dispute with the company. She seeks advice regarding how to protect herself from such risks in the event of a dispute. Which of the following would be a good idea for Connie?

Accepted Answer

A)  A choice-of-law provision. 
B)  A choice-of-forum provision. 
C)  A conflict-of-laws provision. 
D)  Both a choice-of-law provision and a choice-of-forum provision. 
A)  A choice-of-law provision. 
B)  A choice-of-forum provision. 
C)  A conflict-of-laws provision. 
D)  Both a choice-of-law provision and a choice-of-forum provision.

Question 10

The antidumping law is the most frequently used U.S.import-relief law.

Accepted Answer

A) True 
 B)False

Question 11

Tariffs are a means by which imports may be limited.

Accepted Answer

A) True 
 B)False

Question 12

What is the commercial activity exception to the Foreign Sovereign Immunities Act?

Accepted Answer

The commercial activity exception to sov

Question 13

A political union represents the agreement of countries regarding constitutional systems.

Accepted Answer

A) True 
 B)False

Question 14

Section 301 of the Trade Act of 1974 is the principal U.S.statute addressing unfair foreign practices affecting U.S.exports of goods or services.

Accepted Answer

A) True 
 B)False

Question 15

Some countries require employers to fund employee benefits that are not expected in the U.S.

Accepted Answer

A) True 
 B)False

Question 16

The principle of equity is unique to civil law legal systems.

Accepted Answer

A) True 
 B)False

Question 17

All member states of the European Union apply a single set of tariffs,called the _______ tariff,on goods imported from outside the European Union

Accepted Answer

A)  accepted use 
B)  mandated application 
C)  common customs 
D)  European exaction 
A)  accepted use 
B)  mandated application 
C)  common customs 
D)  European exaction

Question 18

Customary practice arises from legislative action.

Accepted Answer

A) True 
 B)False

Question 19

In India,Hindu law is applied to most commercial transactions.

Accepted Answer

A) True 
 B)False

Question 20

The process by which property ownership is transferred from a nation to a private entity is called ________.

Accepted Answer

A)  privatization 
B)  nationalization 
C)  appropriation 
D)  a transfer 
A)  privatization 
B)  nationalization 
C)  appropriation 
D)  a transfer

Exam 24: International Business

Most western European countries use the "American rule" whereby each party,win or lose,generally pays its own attorney fees.

What is the principle of comity? What conditions must usually exist for the principle to be applied?

________ law legal systems primarily rely on case law and precedents.

Set forth the seven principle European Institutions primarily responsible for governing the European Union.

What is the act-of-state doctrine,and how is it generally applied by U.S.courts?

The traditional Islamic rules and laws that regulate Muslim life are called Sharia.

In a series of laws,known collectively as the ________ laws,Congress has authorized the President to raise U.S.tariffs on specified products and to provide other forms of import protection to U.S.businesses.

The antidumping law is the most frequently used U.S.import-relief law.

Tariffs are a means by which imports may be limited.

What is the commercial activity exception to the Foreign Sovereign Immunities Act?

A political union represents the agreement of countries regarding constitutional systems.

Section 301 of the Trade Act of 1974 is the principal U.S.statute addressing unfair foreign practices affecting U.S.exports of goods or services.

Some countries require employers to fund employee benefits that are not expected in the U.S.

The principle of equity is unique to civil law legal systems.

All member states of the European Union apply a single set of tariffs,called the _______ tariff,on goods imported from outside the European Union

Customary practice arises from legislative action.

In India,Hindu law is applied to most commercial transactions.

The process by which property ownership is transferred from a nation to a private entity is called ________.

law, value creation, and risk management

Ethics ant the law

Courts, sources of law, and dispute resolution

Constitutional bases for business regulation

Agency

Administrative Law

Contracts

sales,licensing,and e-commerce

Torts and Privacy protection

product liability

Intellectual property

The employment agreement

civil rights and employment discrimination

Criminal law

Environmental law

Antitrust

Consumer Protection

real property and land use

Forms of business organizations

Directors, Officers, and Controlling Shareholders

Public and Private Offerings of Securities

Securities Fraud and insider trading

Debtor-Creditor Relations and Bankruptcy

Filters