Question 1

The body of the United Nations that includes permanent members from only five nations is the:

Accepted Answer

A)  Security Council 
B)  Secretariat 
C)  General Assembly 
D)  World Senate 
E)  International Monetary Fund 
A)  Security Council 
B)  Secretariat 
C)  General Assembly 
D)  World Senate 
E)  International Monetary Fund A

Question 2

Treaties address such issues as human rights and foreign aid.

Accepted Answer

A) True 
 B)False  True

Question 3

The North American Free Trade Agreement was formed in 1992 with only three nations.

Accepted Answer

A) True 
 B)False  True

Question 4

A farmer's cooperative in North Dakota entered 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)  Sue in the Word Trade Organization. 
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)  Sue in the Word Trade Organization.

Question 5

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

Accepted Answer

A)  A common currency has been introduced. 
B)  The Union has established the EU Commission and delegated certain powers to it. 
C)  A majority vote is needed to admit a new member. 
D)  The gross economic output of EU nations is greater than that of the United States. 
E)  The Union was created in 1957. 
A)  A common currency has been introduced. 
B)  The Union has established the EU Commission and delegated certain powers to it. 
C)  A majority vote is needed to admit a new member. 
D)  The gross economic output of EU nations is greater than that of the United States. 
E)  The Union was created in 1957.

Question 6

The courts of one nation cannot question the actions undertaken by another nation within the other nation's borders under the:

Accepted Answer

A)  act of state doctrine 
B)  sovereign immunity doctrine 
C)  extradition doctrine 
D)  expropriation doctrine 
E)  comity doctrine 
A)  act of state doctrine 
B)  sovereign immunity doctrine 
C)  extradition doctrine 
D)  expropriation doctrine 
E)  comity doctrine

Question 7

The act of state doctrine is flexible,in that one country may question the validity of an act committed by another country within that other country's own borders.

Accepted Answer

A) True 
 B)False

Question 8

As members of the Association of South East Asian Nations,Japan and China have significant input into the economic community.

Accepted Answer

A) True 
 B)False

Question 9

The World Trade Organization was created by:

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 10

Which of the following is true about the European Union?

Accepted Answer

A)  Member nations have not given up any sovereignty to the EU. 
B)  Customs tariffs have been eliminated between member nations and nonmember nations. 
C)  An EU central bank has been established. 
D)  The EU includes a couple of nations from Northern Africa with European ties. 
E)  Its primary purpose is military defense. 
A)  Member nations have not given up any sovereignty to the EU. 
B)  Customs tariffs have been eliminated between member nations and nonmember nations. 
C)  An EU central bank has been established. 
D)  The EU includes a couple of nations from Northern Africa with European ties. 
E)  Its primary purpose is military defense.

Question 11

The World Trade Organization is also known as the "Supreme Court of Trade."

Accepted Answer

A) True 
 B)False

Question 12

In the Constitution,the power over international affairs is primarily,though not exclusively,vested in the states.

Accepted Answer

A) True 
 B)False

Question 13

The General Assembly of the United Nations is made up of all member nations.

Accepted Answer

A) True 
 B)False

Question 14

A treaty between the United States and Canada is known as a:

Accepted Answer

A)  unilateral treaty 
B)  bilateral treaty 
C)  multi-lateral treaty 
D)  convention 
A)  unilateral treaty 
B)  bilateral treaty 
C)  multi-lateral treaty 
D)  convention

Question 15

Which of the following is not true about the United Nations?

Accepted Answer

A)  It was founded in 1918 at the end of World War I. 
B)  Most nations of the world are members. 
C)  There are only five permanent members of the Security Council. 
D)  It contains a number of autonomous agencies that deal with specialized problems. 
E)  Its headquarters are in New York City. 
A)  It was founded in 1918 at the end of World War I. 
B)  Most nations of the world are members. 
C)  There are only five permanent members of the Security Council. 
D)  It contains a number of autonomous agencies that deal with specialized problems. 
E)  Its headquarters are in New York City.

Question 16

The Security Council is responsible for maintaining international peace.

Accepted Answer

A) True 
 B)False

Question 17

Foreign countries are not immune from lawsuits in the U.S.courts if the action is based on commercial activity carried on in the United States.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not a permanent member of the Security Council of the United Nations?

Accepted Answer

A)  China 
B)  France 
C)  Germany 
D)  United Kingdom 
E)  Russia 
A)  China 
B)  France 
C)  Germany 
D)  United Kingdom 
E)  Russia

Question 19

At the international level,there is one single international world court responsible for enforcing and interpreting international law,and there is a world executive branch to enforce international laws.

Accepted Answer

A) True 
 B)False

Question 20

The government of Germany enters into a multiyear contract with a French farmers' cooperative for the purchase of a quantity of wine.This cooperative is a quasi-governmental agency.After purchasing a substantial quantity of the wine,the British government concludes that the French government has subsidized the cooperative contrary to regulations of the European Union and contrary to other international trade agreements.The farmers' cooperative disagrees and wants to compel the German government to pay for all wine that it has already received.Discuss the cooperative's options in this case.

Accepted Answer

There are public law issues in connectio

Exam 54: International and World Trade Law

The body of the United Nations that includes permanent members from only five nations is the:

Treaties address such issues as human rights and foreign aid.

The North American Free Trade Agreement was formed in 1992 with only three nations.

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

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

The courts of one nation cannot question the actions undertaken by another nation within the other nation's borders under the:

The act of state doctrine is flexible,in that one country may question the validity of an act committed by another country within that other country's own borders.

As members of the Association of South East Asian Nations,Japan and China have significant input into the economic community.

The World Trade Organization was created by:

Which of the following is true about the European Union?

The World Trade Organization is also known as the "Supreme Court of Trade."

In the Constitution,the power over international affairs is primarily,though not exclusively,vested in the states.

The General Assembly of the United Nations is made up of all member nations.

A treaty between the United States and Canada is known as a:

Which of the following is not true about the United Nations?

The Security Council is responsible for maintaining international peace.

Foreign countries are not immune from lawsuits in the U.S.courts if the action is based on commercial activity carried on in the United States.

Which of the following is not a permanent member of the Security Council of the United Nations?

At the international level,there is one single international world court responsible for enforcing and interpreting international law,and there is a world executive branch to enforce international laws.

Legal Heritage and the Information Age

Court Systems and Jurisdiction

Judicial, Alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Strict Liability and Product 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

Internet Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Sales and Lease Warranties

Creation of Negotiable Instruments

Transferability and Holder In Due Course

Liability,Defenses and Discharge

Checks, the Banking System, and E-Money

Creditor's and Debtor's Rights

Secured Transactions and Electronic Filing

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, Agents, and Independent Contractors

Employment,Worker Protection,and Immigration Laws

Labor Law and Collective Bargaining

Equal Opportunity in Employment

Small Businesses, Entrepreneurs, and General Partnerships

Limited Partnerships and Limited Liability Limited 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 Business

Investor Protection and Online Securities Transactions

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection and Global Warming

Antitrust Law and Unfair Trade Practices

Personal Property and Bailment

Real Property

Landlord Tenant Law and Land Use Regulation

Insurance

Accountants' Liability

Wills, Trusts, and Elder Law

Family Law

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