Question 1

Under the Foreign Sovereign Immunities Act a foreign sovereign is:

Accepted Answer

A)  immune from all suits in the United States. 
B)  immune from suits in the United States involving sovereign or public acts, but not private or commercial acts. 
C)  not immune from any type of suit in the United States. 
D)  None of these is correct. 
A)  immune from all suits in the United States. 
B)  immune from suits in the United States involving sovereign or public acts, but not private or commercial acts. 
C)  not immune from any type of suit in the United States. 
D)  None of these is correct.

Question 2

Because there is no international currency, nations have sought to ease the flow of capital between them.

Accepted Answer

A) True 
 B)False

Question 3

The International Organization for Standardization (ISO) issued the first-ever global standard for anti-bribery compliance programs, providing guidance for establishing, implementing, maintaining, reviewing, and improving an anti-bribery management system.

Accepted Answer

A) True 
 B)False

Question 4

The Economic Espionage Act, as amended by the Defend Trade Secrets Act, applies to misappropriations of trade secrets even if the conduct occurs outside the United States.

Accepted Answer

A) True 
 B)False

Question 5

The U.N. Commission on International Trade Law develops model laws, such as the CISG and the UNCITRAL Model Law on Electronic Signatures.

Accepted Answer

A) True 
 B)False

Question 6

The euro (€) is the single currency currently shared by nineteen of the EU's members, which collectively are known as the Eurozone.

Accepted Answer

A) True 
 B)False

Question 7

The Sherman Act:

Accepted Answer

A)  applies to acts committed overseas by U.S. corporations. 
B)  would not apply to an act committed in the United States by a foreign corporation. 
C)  would not apply to an act overseas by a 100 percent-owned foreign subsidiary of a U.S. corporation. 
D)  never applies to acts committed outside the U.S. 
A)  applies to acts committed overseas by U.S. corporations. 
B)  would not apply to an act committed in the United States by a foreign corporation. 
C)  would not apply to an act overseas by a 100 percent-owned foreign subsidiary of a U.S. corporation. 
D)  never applies to acts committed outside the U.S.

Question 8

Kelly has just been appointed the manager of a company that has begun the direct export of its product. What precautions should he take to assure that the company will in fact be paid for its products when the company has never dealt with the buyers before and is new to the international legal environment?

Accepted Answer

The company should have a good working r

Question 9

In Saudi Arabia v. Nelson , the court held:

Accepted Answer

A)  under the Foreign Sovereign Immunities Act, a foreign state is presumptively under the jurisdiction of the U.S. courts. 
B)  the Foreign Sovereign Immunities Act provides the sole basis for obtaining jurisdiction over a foreign state in the courts of this country. 
C)  whether a state acts in the manner of a private party is a question of motivation. 
D)  in determining whether a state engages in commercial activity, the question is whether the foreign government is motivated by profit. 
A)  under the Foreign Sovereign Immunities Act, a foreign state is presumptively under the jurisdiction of the U.S. courts. 
B)  the Foreign Sovereign Immunities Act provides the sole basis for obtaining jurisdiction over a foreign state in the courts of this country. 
C)  whether a state acts in the manner of a private party is a question of motivation. 
D)  in determining whether a state engages in commercial activity, the question is whether the foreign government is motivated by profit.

Question 10

Assume a foreign nation has seized all of the property of an American corporation. The nation has assumed ownership of the property for a public purpose and has paid the American corporation what it believes to be fair compensation. Under these facts, the seizure of property is best described as:

Accepted Answer

A)  expropriation. 
B)  confiscation. 
C)  force majeure . 
D)  eminent domain. 
A)  expropriation. 
B)  confiscation. 
C)  force majeure . 
D)  eminent domain.

Question 11

An expropriation, or nationalization, occurs when a government seizes foreign-owned property or assets for a public purpose and pays the owner just compensation for what is taken.

Accepted Answer

A) True 
 B)False

Question 12

Why do governments impose tariffs?

Accepted Answer

A)  To protect domestic industries from foreign competition. 
B)  To raise revenues. 
C)  To attempt to improve their balance of trade. 
D)  Governments impose tariffs for all of the above reasons. 
A)  To protect domestic industries from foreign competition. 
B)  To raise revenues. 
C)  To attempt to improve their balance of trade. 
D)  Governments impose tariffs for all of the above reasons.

Question 13

Under the act of state doctrine, the United States reserves some areas of jurisdiction over the internal actions of sovereign states.

Accepted Answer

A) True 
 B)False

Question 14

The U.N. Convention on Contracts for the International Sales of Goods (CISG) includes provisions relating to which of the following?

Accepted Answer

A)  Interpretation and trade usage. 
B)  Intellectual property rights. 
C)  Obligations and remedies of sellers, but not buyers. 
D)  Sharing of profits. 
A)  Interpretation and trade usage. 
B)  Intellectual property rights. 
C)  Obligations and remedies of sellers, but not buyers. 
D)  Sharing of profits.

Question 15

Under U.S. law, the CISG supersedes the UCC whenever either could apply.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is an objective of the North American Free Trade Agreement (NAFTA)?

Accepted Answer

A)  Create trade barriers to the movement of goods and services across the borders. 
B)  Promote conditions of fair competition in the free trade area. 
C)  Decrease investment opportunities in the area. 
D)  Provide adequate and effective enforcement of all types of property rights. 
A)  Create trade barriers to the movement of goods and services across the borders. 
B)  Promote conditions of fair competition in the free trade area. 
C)  Decrease investment opportunities in the area. 
D)  Provide adequate and effective enforcement of all types of property rights.

Question 17

Assume the U.S. has granted "most-favored nation" status to Holland. This means that the tariff on Dutch imported tobacco must be at least as low as that charged on tobacco from any other nation.

Accepted Answer

A) True 
 B)False

Question 18

The ICJ is:

Accepted Answer

A)  the Internal Court of Jurisdiction of the U.N. to deal with disputes within the United Nations organization. 
B)  a U.S. court created specifically to deal with international contracts. 
C)  the judicial branch of the United Nations, which has advisory jurisdiction if requested by a U.N. organ or specialized U.N. agency. 
D)  one of the many regional trade communities. 
A)  the Internal Court of Jurisdiction of the U.N. to deal with disputes within the United Nations organization. 
B)  a U.S. court created specifically to deal with international contracts. 
C)  the judicial branch of the United Nations, which has advisory jurisdiction if requested by a U.N. organ or specialized U.N. agency. 
D)  one of the many regional trade communities.

Question 19

Businesses which wish to safeguard their technology while doing business in the international sector would not want to consider the use of wholly owned subsidiaries.

Accepted Answer

A) True 
 B)False

Question 20

The United States and Germany may request an advisory opinion from the ICJ to settle a dispute over a trade issue.

Accepted Answer

A) True 
 B)False

Exam 46: International Business Law

Under the Foreign Sovereign Immunities Act a foreign sovereign is:

Because there is no international currency, nations have sought to ease the flow of capital between them.

The International Organization for Standardization (ISO) issued the first-ever global standard for anti-bribery compliance programs, providing guidance for establishing, implementing, maintaining, reviewing, and improving an anti-bribery management system.

The Economic Espionage Act, as amended by the Defend Trade Secrets Act, applies to misappropriations of trade secrets even if the conduct occurs outside the United States.

The U.N. Commission on International Trade Law develops model laws, such as the CISG and the UNCITRAL Model Law on Electronic Signatures.

The euro (€) is the single currency currently shared by nineteen of the EU's members, which collectively are known as the Eurozone.

The Sherman Act:

In Saudi Arabia v. Nelson , the court held:

Assume a foreign nation has seized all of the property of an American corporation. The nation has assumed ownership of the property for a public purpose and has paid the American corporation what it believes to be fair compensation. Under these facts, the seizure of property is best described as:

An expropriation, or nationalization, occurs when a government seizes foreign-owned property or assets for a public purpose and pays the owner just compensation for what is taken.

Why do governments impose tariffs?

Under the act of state doctrine, the United States reserves some areas of jurisdiction over the internal actions of sovereign states.

The U.N. Convention on Contracts for the International Sales of Goods (CISG) includes provisions relating to which of the following?

Under U.S. law, the CISG supersedes the UCC whenever either could apply.

Which of the following is an objective of the North American Free Trade Agreement (NAFTA)?

Assume the U.S. has granted "most-favored nation" status to Holland. This means that the tariff on Dutch imported tobacco must be at least as low as that charged on tobacco from any other nation.

The ICJ is:

Businesses which wish to safeguard their technology while doing business in the international sector would not want to consider the use of wholly owned subsidiaries.

The United States and Germany may request an advisory opinion from the ICJ to settle a dispute over a trade issue.

Introduction to Law

Business Ethics

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance Breach and Discharge

Contract Remedies

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits Collections and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

Environmental Law

Introduction to Property Property Insurance Bailments and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

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