Question 1

The arbitration process is less streamlined and harder for the parties to understand than litigating the dispute in a foreign court.

Accepted Answer

A) True 
 B)False  False

Question 2

Generally,international law is classified as ______.

Accepted Answer

A)  public international law or private international law 
B)  criminal international law or civil international law 
C)  international common law or international tort law 
D)  international tort law or international contract law 
E)  international business law or international property law 
A)  public international law or private international law 
B)  criminal international law or civil international law 
C)  international common law or international tort law 
D)  international tort law or international contract law 
E)  international business law or international property law A

Question 3

What types of payments are permissible under the Foreign Corrupt Practices Act?

Accepted Answer

The following payments are permissible under the FCPA:
a)Facilitating,expediting,or grease payments for routine government action.Examples include obtaining permits,licenses,or other official documents; processing governmental papers (e.g.,visas and work orders); providing police protection; loading and unloading cargo; and scheduling inspections associated with contract performance or transit of goods across country.
b)Any payments permitted under the written laws of the foreign country.
c)Travel expenses of a foreign official for the purpose of demonstrating a product or for performing a contractual obligation.

Question 4

International sales transactions using ______ involve,in addition to a seller and buyer,an issuing bank in the buyer's country.

Accepted Answer

A)  a bill of lading 
B)  a bill of exchange 
C)  an irrevocable promissory note 
D)  a negotiable instrument 
E)  an irrevocable letter of credit 
A)  a bill of lading 
B)  a bill of exchange 
C)  an irrevocable promissory note 
D)  a negotiable instrument 
E)  an irrevocable letter of credit

Question 5

In the context of foreign sales,there is no room in documentary transactions for substantial performance.

Accepted Answer

A) True 
 B)False

Question 6

In the United States,the counterpart of expropriation is called the ______.

Accepted Answer

A)  procedural due process 
B)  due process clause 
C)  power of eminent domain 
D)  power of judicial restraint 
E)  establishment clause 
A)  procedural due process 
B)  due process clause 
C)  power of eminent domain 
D)  power of judicial restraint 
E)  establishment clause

Question 7

The Hague Service Convention is a treaty designed to provide a simpler way to serve process abroad when suing foreign businesses.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements is true of the Commission of the European Union?

Accepted Answer

A)  It coordinates the policies of the member states in a variety of areas from economics to foreign affairs. 
B)  It is composed of elected representatives from the five most powerful member states. 
C)  It plays an active role in drafting legislation that has an impact on the daily lives of its citizens. 
D)  It is the only institution of the EU that has control over the annual budget of the EU. 
E)  It consists of individuals who represent the will and interests of the entire European Union. 
A)  It coordinates the policies of the member states in a variety of areas from economics to foreign affairs. 
B)  It is composed of elected representatives from the five most powerful member states. 
C)  It plays an active role in drafting legislation that has an impact on the daily lives of its citizens. 
D)  It is the only institution of the EU that has control over the annual budget of the EU. 
E)  It consists of individuals who represent the will and interests of the entire European Union.

Question 9

Briefly describe a common method to obtain payment from a buyer in the international sale of goods.

Accepted Answer

Commonly,an irrevocable letter of credit

Question 10

The World Intellectual Property Organization Arbitration and Mediation Center hears cases involving corporations and not individuals.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is a most likely reason for a firm to enter a licensing agreement?

Accepted Answer

A)  A licensing arrangement allows firms to enter a foreign market without direct foreign investments. 
B)  For a firm to enter into a licensing agreement, it must have substantial capital. 
C)  A licensing agreement does not require firms to follow the local laws where they operate. 
D)  A licensing arrangement is used only if the firms have strong management skills and marketing strategies in the regions where they operate. 
E)  A licensing agreement is a risk free method for firms to expand in foreign markets. 
A)  A licensing arrangement allows firms to enter a foreign market without direct foreign investments. 
B)  For a firm to enter into a licensing agreement, it must have substantial capital. 
C)  A licensing agreement does not require firms to follow the local laws where they operate. 
D)  A licensing arrangement is used only if the firms have strong management skills and marketing strategies in the regions where they operate. 
E)  A licensing agreement is a risk free method for firms to expand in foreign markets.

Question 12

Which of the following is a risk associated with the sale of U.S.strategic products and technology abroad?

Accepted Answer

A)  import controls 
B)  material controls 
C)  export controls 
D)  sales controls 
E)  transaction controls 
A)  import controls 
B)  material controls 
C)  export controls 
D)  sales controls 
E)  transaction controls

Question 13

The Hague Service Convention is a treaty that was formulated to

Accepted Answer

A)  provide foreign subsidiaries with fewer formalities in their creation and operation. 
B)  allow the parent companies of foreign subsidiaries to have greater control over the subsidiaries. 
C)  make it easier for Central American countries to trade with the Netherlands. 
D)  to assure that defendants sued in foreign jurisdictions would receive actual and timely notice of suit. 
E)  to restrict the service of process abroad in order to reduce the number of lawsuits filed against foreign firms. 
A)  provide foreign subsidiaries with fewer formalities in their creation and operation. 
B)  allow the parent companies of foreign subsidiaries to have greater control over the subsidiaries. 
C)  make it easier for Central American countries to trade with the Netherlands. 
D)  to assure that defendants sued in foreign jurisdictions would receive actual and timely notice of suit. 
E)  to restrict the service of process abroad in order to reduce the number of lawsuits filed against foreign firms.

Question 14

Which of the following is most likely to be considered immune from suit under the Foreign Sovereign Immunities Act?

Accepted Answer

A)  a privatization of assets 
B)  sovereign acts 
C)  a nationalization of assets 
D)  commercial acts carried on in the United States 
E)  commercial acts having direct effects in the United States 
A)  a privatization of assets 
B)  sovereign acts 
C)  a nationalization of assets 
D)  commercial acts carried on in the United States 
E)  commercial acts having direct effects in the United States

Question 15

The U.S.export control system currently is regulated by the Department of State and the Department of Commerce under authority provided by the Export Administration Act and the Arms Export Control Act.

Accepted Answer

A) True 
 B)False

Question 16

Briefly discuss the North American Free Trade Agreement.

Accepted Answer

The passage of the North American Free T

Question 17

Many of the developing countries require that the local partner of a joint venture has minority equity control of the venture.

Accepted Answer

A) True 
 B)False

Question 18

What are the reasons for a company to create a foreign subsidiary in a host country?

Accepted Answer

As a business increases its level of int

Question 19

What are the red flags that exporters should be aware of according to the U.S.Export Control and Related Border Security Assistance Program?

Accepted Answer

According to the U.S.Export Control and

Question 20

The Convention on the International Sale of Goods provides that in contract negotiations an acceptance that contains new provisions that materially alter the terms of the offer becomes part of a contract.

Accepted Answer

A) True 
 B)False

Exam 12: International Law

The arbitration process is less streamlined and harder for the parties to understand than litigating the dispute in a foreign court.

Generally,international law is classified as ______.

What types of payments are permissible under the Foreign Corrupt Practices Act?

International sales transactions using ______ involve,in addition to a seller and buyer,an issuing bank in the buyer's country.

In the context of foreign sales,there is no room in documentary transactions for substantial performance.

In the United States,the counterpart of expropriation is called the ______.

The Hague Service Convention is a treaty designed to provide a simpler way to serve process abroad when suing foreign businesses.

Which of the following statements is true of the Commission of the European Union?

Briefly describe a common method to obtain payment from a buyer in the international sale of goods.

The World Intellectual Property Organization Arbitration and Mediation Center hears cases involving corporations and not individuals.

Which of the following is a most likely reason for a firm to enter a licensing agreement?

Which of the following is a risk associated with the sale of U.S.strategic products and technology abroad?

The Hague Service Convention is a treaty that was formulated to

Which of the following is most likely to be considered immune from suit under the Foreign Sovereign Immunities Act?

The U.S.export control system currently is regulated by the Department of State and the Department of Commerce under authority provided by the Export Administration Act and the Arms Export Control Act.

Briefly discuss the North American Free Trade Agreement.

Many of the developing countries require that the local partner of a joint venture has minority equity control of the venture.

What are the reasons for a company to create a foreign subsidiary in a host country?

What are the red flags that exporters should be aware of according to the U.S.Export Control and Related Border Security Assistance Program?

The Convention on the International Sale of Goods provides that in contract negotiations an acceptance that contains new provisions that materially alter the terms of the offer becomes part of a contract.

Law As a Foundation for Business

The Role of Ethics in Decision Making

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

Criminal Law and Business

Business Organizations

The Regulatory Process

Regulating Competitionantitrust Laws

Financial and Securities Regulations

Regulations Protecting Consumer Purchases, privacy, and Financial Activities

Environmental Regulation

Discrimination in Employment

Employment Laws

Labormanagement Relationship

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