Exam 9: International Law

Zebra Toy Company invests a large sum of money in retail stores located in a foreign country.Zebra intends to bring its foreign earnings back home to the United States.This practice is known as:

Trein,Inc.,a U.S.company entered into an exclusive distributorship agreement with Posty,Inc.,a Zambian company.This means that Trein will only use Posty to distribute products in Zambia.

MagNet is a U.S.company based in Utah.It is negotiating to sell $4 million worth of computer goods to a French company,Legran.MagNet's attorney suggests that payment be by a letter of credit.What is a letter of credit and why does MagNet's attorney recommend payment by letter of credit?

The primary goal of the North American Free Trade Agreement (NAFTA)is to:

The United States has agreed to which of the following?

The primary antitrust law in the United States is the:

The European Union has adopted a currency known as the:

The European Union is one of the world's most powerful regional associations with 42 member nations as of 2011.

Ad valorem duty is based on the fair market value of the imported good as of the date it reaches the United States,not the price actually paid for the good when sold for export to the United States.

MagNet,a small United States computer company,started doing business in a foreign country.The foreign country later decided to take over all computer industry,including MagNet's operation.The foreign country paid MagNet adequate compensation in United States dollars.The foreign country's action is called:

Explain what the General Agreement on Tariffs and Trade (GATT)is and give pro and con arguments concerning this agreement.

The Marcel Company is opening an office in Mexico.The cost to obtain electrical service is $500,but the clerk suggests that service could be started faster if an additional $50 is paid,which the clerk will keep.If the Marcel official pays the additional $50:

Archer Co.has decided it wants to expand into international business,but it is concerned about expropriation of its property or losses caused by political unrest.Archer is considering purchasing insurance through the Overseas Private Investment Corporation (OPIC).OPIC:

Identify the term for and discuss the legality of a government's taking of property owned by foreign investors.Discuss what action a company might take if it wants to do business abroad but is concerned about losing its property to a foreign government.

In Marubeni America Corp.v.United States,the federal appellate court ruled that the Nissan Pathfinder was,for tariff classification purposes a motor vehicle for the transport of passengers.The classification of goods is significant because:

A contract involving the sale of goods from a Texas seller to a French wholesaler must always use the United Nations Convention on Contracts for the International Sale of Goods (CISG).

Under European Union law,any agreement,contract,or discussion that distorts competition within European Union countries is illegal.

It is not a violation of United States law for a domestic company to pay money to a foreign governmental official in order to obtain a contract with the foreign government if this type of "commission" is commonly paid in that foreign country.

Notren,Inc.,a U.S.company,and SWT,a Singapore company,entered into a contract under which SWT is to ship party supplies to Notren.One of the terms of the contract states,"Any disputes that arise under this contract will be resolved in the courts of Singapore." This contract term is a:

Yount,Inc.is interested in expanding its business to include exporting its products to several other countries.Discuss two federal statutes that should be considered before making the decision to export.