Exam 24: International Law and Transactions.

Tariffs are a means by which imports may be limited.

If a country exerts nationalization over a company's assets provides compensation,__________ has occurred.

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

If a country exerts nationalization over a company's assets and does not provide compensation,__________ has occurred.

The European Commission is the __________ of the European Union.

In the United States,the value of an article for customs purposes is normally the __________ value,which is the price indicated on the sales invoice.

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

Civil law systems are found in areas besides Europe.

__________ is the principal U.S.statute addressing unfair foreign practices affecting U.S.exports of goods or services.

Set forth the differences between the current British common law system and the U.S.common law systems.Describe the difference between a solicitor and a barrister in the British system.

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

In CASE 24.3Kiobel v.Royal Dutch Petroleum Co.(2013)defendants,who had engaged in oil exploration and drilling in the Ogoni region of Nigeria for decades,were sued by the Ogoni indigenous peoples.The issuebefore the U.S.Supreme Court was whether the __________ extended to corporations that aid and abet human rights violations as a matter of customary international law.

Allison,a dress designer,believes that she has a great deal with a company in Ireland,called Fashion,which has agreed to purchase a number of her dresses.The manager of Fashion,however,insists on delivery of the dresses before payment will be provided.Which of the following would be a good idea for Allison?

Countries are prohibited by international law from regulating the percentage of foreign ownership of businesses that are incorporated within their borders.

The Department of State administers embargoes imposed on U.S.trade with countries such as Iraq,Cuba,and North Korea.

The __________ Act prohibits any payment by a company,its employees,or its agents directly or indirectly to a foreign government official for the purpose of improperly influencing government decisions,unless the payment is a __________ to a 'low ranking' official to expedite non discretionary granting of a permit or license.

Under GATT's principle of __________ tariffs,each time tariffs are reduced,they may not be raised again without compensation to other World Trade Organization members.

The __________ was most clearly expressed in the Underhill v.Hernandez case referenced in the text,when the court stated that "the courts of one country will not sit in judgment on the acts of the government of another,done within its own territory."

TheGulf Oil Corp.v.Gilbertdiscussed the text,addressed the question of forum non conveniens.What factors did the U.S.Supreme Court set forth that courts should consider in deciding whether to dismiss a case based on forum non conveniens?

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