Question 1

International law is a body of law that governs relations among nations.

Accepted Answer

A) True 
 B)False

Question 2

Confiscation occurs when a government seizes private property for an illegal purpose or without just compensation.

Accepted Answer

A) True 
 B)False

Question 3

Hong Ltd., a Chinese firm, imports its goods into the United States and offers those goods for sale at "less than fair value." This is​

Accepted Answer

A)  ​confiscation. 
B)  ​defalcation. 
C)  ​dumping. 
D)  ​expropriation. 
A)  ​confiscation. 
B)  ​defalcation. 
C)  ​dumping. 
D)  ​expropriation.

Question 4

Chocolate Delectable, Inc., a U.S. firm, enters into an agreement with Columbiana Cacao, S.A., a South American firm, to fix the price of imported chocolate in the U.S. market. If the agreement is a per se violation of U.S. antitrust laws, a U.S. court could exercise jurisdiction over

Accepted Answer

A)  ​both firms. 
B)  ​Chocolate Delectable only. 
C)  ​Columbiana Cacao only. 
D)  ​neither firm. 
A)  ​both firms. 
B)  ​Chocolate Delectable only. 
C)  ​Columbiana Cacao only. 
D)  ​neither firm.

Question 5

Global Fashion, Inc., a U.S. firm, and Haute Couture, a Haitian firm, are parties to a contract that specifies the official language of the contract is English. This is

Accepted Answer

A)  ​a choice-of-forum clause. 
B)  ​a choice-of-language clause. 
C)  ​a choice-of-law clause. 
D)  ​an arbitration clause. 
A)  ​a choice-of-forum clause. 
B)  ​a choice-of-language clause. 
C)  ​a choice-of-law clause. 
D)  ​an arbitration clause.

Question 6

Financial Invest Corporation, a U.S. firm, files a suit against Ghana in a U.S. court. Ghana claims foreign sovereign immunity. Under the Foreign Sovereign Immunities Act

Accepted Answer

A)  ​the plaintiff must show that Ghana is not entitled to sovereign immunity. 
B)  ​Ghana must show that it is entitled to sovereign immunity. 
C)  ​the court must dismiss the suit without any showing. 
D)  ​the court may hear the suit but its decision will have no effect. 
A)  ​the plaintiff must show that Ghana is not entitled to sovereign immunity. 
B)  ​Ghana must show that it is entitled to sovereign immunity. 
C)  ​the court must dismiss the suit without any showing. 
D)  ​the court may hear the suit but its decision will have no effect.

Question 7

Optima Medico Corporation, a U.S. firm, signs a contract with Pharma Beneficial, Ltd., a Canadian firm, to give Pharma the right to sell Optima's products in Canada. This is

Accepted Answer

A)  ​a distribution agreement. 
B)  ​a joint venture. 
C)  ​direct exporting. 
D)  ​licensing. 
A)  ​a distribution agreement. 
B)  ​a joint venture. 
C)  ​direct exporting. 
D)  ​licensing.

Question 8

Minerals Mining Company, a U.S. firm, owns property in Bolivia. The government of Bolivia seizes the property for an illegal purpose without paying just compensation. This is

Accepted Answer

A)  ​confiscation. 
B)  ​defalcation. 
C)  ​dumping. 
D)  ​expropriation. 
A)  ​confiscation. 
B)  ​defalcation. 
C)  ​dumping. 
D)  ​expropriation.

Question 9

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Team Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if

Accepted Answer

A)  ​the agreement was made in Switzerland. 
B)  ​the agreement was made in the United States. 
C)  ​the price fixing has a substantial effect on U.S. commerce. 
D)  ​the Swiss government agrees to be sued in the United States. 
A)  ​the agreement was made in Switzerland. 
B)  ​the agreement was made in the United States. 
C)  ​the price fixing has a substantial effect on U.S. commerce. 
D)  ​the Swiss government agrees to be sued in the United States.

Question 10

Jackson, or any U.S. citizen, can bring a civil suit in a U.S. court against a foreign entity for a tort allegedly committed in

Accepted Answer

A)  ​the United States only. 
B)  ​the United States or overseas. 
C)  ​overseas only. 
D)  ​none of the choices. 
A)  ​the United States only. 
B)  ​the United States or overseas. 
C)  ​overseas only. 
D)  ​none of the choices.

Question 11

Expropriation occurs when a government seizes private property for a proper public purpose and awards just compensation.

Accepted Answer

A) True 
 B)False

Question 12

Star Flights Inc. launches exploratory and commercial space flights from its base in the United States. In the event of a collision with other space objects, under the Outer Space Treaty, liability for injury or damage

Accepted Answer

A)  ​is to be assumed by all involved parties equitably 
B)  ​is strict liability-that is, liability without fault. 
C)  ​is subject to a determination of fault. 
D)  ​does not exist. 
A)  ​is to be assumed by all involved parties equitably 
B)  ​is strict liability-that is, liability without fault. 
C)  ​is subject to a determination of fault. 
D)  ​does not exist.

Question 13

To restrict or encourage exports, Congress can set quotas on various items, such as grain being sold abroad.

Accepted Answer

A) True 
 B)False

Question 14

Quotas include limits on the amounts of goods that can be exported.

Accepted Answer

A) True 
 B)False

Question 15

Without permission, a Russian firm names itself McDonald's and begins selling hamburgers and French fries in Russia. This is

Accepted Answer

A)  ​piracy. 
B)  ​a licensing agreement. 
C)  ​indirect exporting. 
D)  ​franchising. 
A)  ​piracy. 
B)  ​a licensing agreement. 
C)  ​indirect exporting. 
D)  ​franchising.

Question 16

A nation that launches objects into space is absolutely liable for personal injury and property damage caused by its objects on Earth or in flight.

Accepted Answer

A) True 
 B)False

Question 17

​Global Industries Corporation owns assets in Kazakhstan, a country in Asia. The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors. What can Global Industries do? Can it at least obtain payment for the assets?

Accepted Answer

If a government decides to seize propert

Question 18

Few countries guarantee compensation to foreign investors if their property is taken.

Accepted Answer

A) True 
 B)False

Question 19

Dumping is the exporting of environmentally polluting goods to a foreign market.

Accepted Answer

A) True 
 B)False

Question 20

International contracts frequently include arbitration clauses.

Accepted Answer

A) True 
 B)False

Exam 24: International and Space Law

International law is a body of law that governs relations among nations.

Confiscation occurs when a government seizes private property for an illegal purpose or without just compensation.

Hong Ltd., a Chinese firm, imports its goods into the United States and offers those goods for sale at "less than fair value." This is​

Chocolate Delectable, Inc., a U.S. firm, enters into an agreement with Columbiana Cacao, S.A., a South American firm, to fix the price of imported chocolate in the U.S. market. If the agreement is a per se violation of U.S. antitrust laws, a U.S. court could exercise jurisdiction over

Global Fashion, Inc., a U.S. firm, and Haute Couture, a Haitian firm, are parties to a contract that specifies the official language of the contract is English. This is

Financial Invest Corporation, a U.S. firm, files a suit against Ghana in a U.S. court. Ghana claims foreign sovereign immunity. Under the Foreign Sovereign Immunities Act

Optima Medico Corporation, a U.S. firm, signs a contract with Pharma Beneficial, Ltd., a Canadian firm, to give Pharma the right to sell Optima's products in Canada. This is

Minerals Mining Company, a U.S. firm, owns property in Bolivia. The government of Bolivia seizes the property for an illegal purpose without paying just compensation. This is

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Team Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if

Jackson, or any U.S. citizen, can bring a civil suit in a U.S. court against a foreign entity for a tort allegedly committed in

Expropriation occurs when a government seizes private property for a proper public purpose and awards just compensation.

Star Flights Inc. launches exploratory and commercial space flights from its base in the United States. In the event of a collision with other space objects, under the Outer Space Treaty, liability for injury or damage

To restrict or encourage exports, Congress can set quotas on various items, such as grain being sold abroad.

Quotas include limits on the amounts of goods that can be exported.

Without permission, a Russian firm names itself McDonald's and begins selling hamburgers and French fries in Russia. This is

A nation that launches objects into space is absolutely liable for personal injury and property damage caused by its objects on Earth or in flight.

​Global Industries Corporation owns assets in Kazakhstan, a country in Asia. The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors. What can Global Industries do? Can it at least obtain payment for the assets?

Few countries guarantee compensation to foreign investors if their property is taken.

Dumping is the exporting of environmentally polluting goods to a foreign market.

International contracts frequently include arbitration clauses.

Law and Legal Reasoning

Courts and Alternative Dispute Resolution

Court Procedures

Business and the Constitution

Business Ethics

Tort Law

Strict Liability and Product Liability

Intellectual Property Rights

Internet Law, Social Media, and Privacy

Criminal Law and Cyber Crime

Nature and Terminology

Agreement in Traditional and E-Contracts

Consideration

Capacity and Legality

Mistakes, Fraud, and Voluntary Consent

The Writing Requirement in Our Digital World

Third Party Rights

Performance and Discharge

Breach of Contract and Remedies

The Formation of Sales and Lease Contracts

Title, Risk, and Insurable Interest

Performance and Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments

Transferability and Holder in Due Course

Liability, Defenses, and Discharge

Banking in the Digital Age

Creditors Rights and Remedies

Secured Transactions

Bankruptcy Law

Agency Formation and Duties

Agency Liability and Termination

Employment, Immigration, and Labor Law

Employment Discrimination

Small Businesses and Franchises

All Forms of Partnerships

Limited Liability Companies and Special Business Forms

Corporate Formation and Financing

Corporate Directors, Officers, and Shareholders

Mergers and Takeovers

Investor Protection, Insider Trading, and Corporate Governance

Administrative Agencies

Consumer Law

Environmental Protection

Antitrust Law

Professional Liability and Accountability

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance

Wills and Trusts

The Legal Environment of Business

Torts and Crimes

Contracts and E-Contracts

Domestic and International Sales and Lease Contracts

Negotiable Instruments

Creditors Rights and Bankruptcy

Agency and Employment

Business Organizations

Government Regulation

Hong Ltd., a Chinese firm, imports its goods into the United States and offers those goods for sale at "less than fair value." This is

Global Industries Corporation owns assets in Kazakhstan, a country in Asia. The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors. What can Global Industries do? Can it at least obtain payment for the assets?