Exam 7: International Law

Jones & Knight is a law firm that represents a number of companies that have international operations.Jones & Knight has advised its clients to move their headquarters to Ireland because the corporate tax rate is much lower there than in the United States.What Jones & Knight is advising its clients to do is: ​

The only types of transactions covered under the Foreign Corrupt Practices Act are those that involve contracts with foreign governments.

The Foreign Corrupt Practices Act does not apply to U.S.citizens when they are working in other countries.​

Suppose Rich is required to pay a $500 levy for every $10,000 of Pull-Ons brought into the Sudan."If I could just get those numbers down on the shipping documents,I could save a bundle on these levys." Rich works with a customs officer and two sets of shipping documents.The customs officer files papers showing half of the goods actually brought into his country.Instead of paying $500 as a levy,Rich pays $250 and pays $50 for each $10,000 to the agent for the help with the documents.Has Rich violated the FCPA?

Which of the following is $\underline{\text{not}}$ part of the Foreign Corrupt Practices Act?

U.S.businesses that break laws while operating in foreign countries:

Andre Dubai is the CEO of Lacota,a firm headquartered in Portugal.Lacota has acquired 10 companies in the United States.One of the companies is publicly traded on NASDAQ.Lacota does not have the reporting mechanisms,ethics codes,or board structure for its NASDAQ company that are required under U.S.laws for publicly traded companies.Dubai says that he and Lacota have sovereign immunity from U.S.laws.

The contact lens company,Here's Clear Eye,sold thousands of pairs of contact lenses in Kenya.The lenses were defective and resulted in severe eye infections,and in 156 cases,blindness.The purchasers of the lenses who bring suit in Kenya will be entitled to recover their purchase price,attorney fees and medical bills.Kenya does not permit recovery for pain and suffering nor for permanent injury.Several of the purchasers who are blind have brought suit in South Carolina,the home of Here's Clear Eye.South Carolina permits recovery for permanent injury as well as punitive damages.The average recovery in Kenya for the purchasers is $600.A lawyer for the purchasers from Columbia,South Carolina estimates the average verdict will be $600,000.Which of the following statements is true?

OPEC is:

An NGO:

Sovereign immunity:

There was some resistance to granting China MFN status.

GATT is a 150-member free trade agreement.

GATT is an example of a bilateral trade agreement.

The U.S.courts can be used by citizens of foreign countries to recover for injuries occurring in their countries at the hands of U.S.companies.

The Hickenlooper Amendment is the Foreign Corrupt Practices Act.

The effect of the FCPA has been to decrease U.S.companies' competitiveness.

The Overseas Private Investment Corporation is an insurer against expropriation.

An

U.S.securities laws would not apply to countries selling securities in the United States under the doctrine of sovereign immunity.