Question 1

The European Union is solely a political partnership among 28 democratic European countries.

Accepted Answer

A) True 
 B)False

Question 2

The World Trade Organization is the only global international trade organization dealing with the rules of trade between nations.

Accepted Answer

A) True 
 B)False

Question 3

The International Court of Justice

Accepted Answer

A)  is made up of seven judges representing the most developed countries of the world. 
B)  allows all nations to initiate a case before it. 
C)  renders, on average, seventy contested decisions per year. 
D)  has no enforcement authority against countries that breach international law. 
E)  has been a major force in settling disputes since it began functioning. 
A)  is made up of seven judges representing the most developed countries of the world. 
B)  allows all nations to initiate a case before it. 
C)  renders, on average, seventy contested decisions per year. 
D)  has no enforcement authority against countries that breach international law. 
E)  has been a major force in settling disputes since it began functioning.

Question 4

The ______ grants jurisdiction to U.S.federal district courts over any civil action by an alien for a tort only,committed in violation of the law of nations or a treaty of the United States.

Accepted Answer

A)  Federal Tort Statute 
B)  Alien Tort Statute 
C)  Foreign Tort Claims Act 
D)  International Tort Statute 
E)  Tort Claims in International Trade Act 
A)  Federal Tort Statute 
B)  Alien Tort Statute 
C)  Foreign Tort Claims Act 
D)  International Tort Statute 
E)  Tort Claims in International Trade Act

Question 5

If a buyer from United States enters into a trade deal with a seller from Costa Rica,and an irrevocable letter of credit is involved,the issuing bank will be located in Costa Rica.

Accepted Answer

A) True 
 B)False

Question 6

The ______ encourages international trade by maintaining stable foreign exchange rates and works closely with commercial banks to promote orderly exchange policies with members.

Accepted Answer

A)  World Bank 
B)  World Trade Organization 
C)  United Nations Commission on International Trade Law 
D)  International Monetary Fund 
E)  Convention on International Sale of Goods 
A)  World Bank 
B)  World Trade Organization 
C)  United Nations Commission on International Trade Law 
D)  International Monetary Fund 
E)  Convention on International Sale of Goods

Question 7

Creation of a foreign subsidiary eliminates the risk to a domestic parent firm.

Accepted Answer

A) True 
 B)False

Question 8

Public international law examines relationships created by commercial transactions.

Accepted Answer

A) True 
 B)False

Question 9

Most international contracts contain choice of law and forum provisions to

Accepted Answer

A)  eliminate the uncertainty in determining which nation's court may hear a case if there is a contract dispute. 
B)  avoid prosecution by the World Court. 
C)  abide by the new amendments of the Foreign Corrupt Practices Act. 
D)  eliminate the possibility of being inspected by the United Nations Commission on International Trade Law. 
E)  reduce the possibility of a contract breach due to international trade disputes. 
A)  eliminate the uncertainty in determining which nation's court may hear a case if there is a contract dispute. 
B)  avoid prosecution by the World Court. 
C)  abide by the new amendments of the Foreign Corrupt Practices Act. 
D)  eliminate the possibility of being inspected by the United Nations Commission on International Trade Law. 
E)  reduce the possibility of a contract breach due to international trade disputes.

Question 10

To sue a foreign firm in the United States,a plaintiff must

Accepted Answer

A)  establish maximum contacts between a foreign defendant and the forum court. 
B)  demonstrate that exercise of personal jurisdiction over a defendant will be ineffective. 
C)  comply with the terms of the Hague Service Convention when serving notice of a lawsuit. 
D)  comply with the terms of the Convention of International Sale of Goods when filing a lawsuit. 
E)  establish legal representation in the area of personal jurisdiction. 
A)  establish maximum contacts between a foreign defendant and the forum court. 
B)  demonstrate that exercise of personal jurisdiction over a defendant will be ineffective. 
C)  comply with the terms of the Hague Service Convention when serving notice of a lawsuit. 
D)  comply with the terms of the Convention of International Sale of Goods when filing a lawsuit. 
E)  establish legal representation in the area of personal jurisdiction.

Question 11

A country may choose to accept the International Court of Justice's jurisdiction only when the use of the Court may suit its own interests.

Accepted Answer

A) True 
 B)False

Question 12

With respect to the sale of goods,the Convention on the International Sale of Goods (CISG)states that

Accepted Answer

A)  if the parties to a contract are located in countries that have adopted the CISG, then parties are not subject to local laws. 
B)  all contracts for the sale of goods must be in the oral form. 
C)  contracts for the sale of goods need not be in writing. 
D)  the parties to a contract should sign the contract in the presence of attorneys. 
E)  only contracts concerning sale of goods above $500 must be in writing. 
A)  if the parties to a contract are located in countries that have adopted the CISG, then parties are not subject to local laws. 
B)  all contracts for the sale of goods must be in the oral form. 
C)  contracts for the sale of goods need not be in writing. 
D)  the parties to a contract should sign the contract in the presence of attorneys. 
E)  only contracts concerning sale of goods above $500 must be in writing.

Question 13

Which of the following statements is true of licensing arrangements?

Accepted Answer

A)  Licensing requires international businesses to make direct foreign investment to enter foreign markets. 
B)  Licensing agreements are applicable only to patents, copyrights, and trademarks, and not to manufacturing processes. 
C)  Licensing agreements must follow the local laws where they operate. 
D)  Licensing risks are greater than the risks associated with foreign direct investment. 
E)  Licensing technology requires substantial capital to expand a company's market. 
A)  Licensing requires international businesses to make direct foreign investment to enter foreign markets. 
B)  Licensing agreements are applicable only to patents, copyrights, and trademarks, and not to manufacturing processes. 
C)  Licensing agreements must follow the local laws where they operate. 
D)  Licensing risks are greater than the risks associated with foreign direct investment. 
E)  Licensing technology requires substantial capital to expand a company's market.

Question 14

The World Intellectual Property Organizations Arbitration and Mediation Center hears cases involving

Accepted Answer

A)  international patent and copyright. 
B)  sovereign immunity. 
C)  international trademark and trade secret. 
D)  domain name and cybersquatting. 
E)  copyright and patent violation. 
A)  international patent and copyright. 
B)  sovereign immunity. 
C)  international trademark and trade secret. 
D)  domain name and cybersquatting. 
E)  copyright and patent violation.

Question 15

The Central America-Dominican Republic Free Trade Agreement is designed to eliminate the barriers on products trades between its member countries.

Accepted Answer

A) True 
 B)False

The European Union is solely a political partnership among 28 democratic European countries.

The World Trade Organization is the only global international trade organization dealing with the rules of trade between nations.

The International Court of Justice

The ______ grants jurisdiction to U.S.federal district courts over any civil action by an alien for a tort only,committed in violation of the law of nations or a treaty of the United States.

If a buyer from United States enters into a trade deal with a seller from Costa Rica,and an irrevocable letter of credit is involved,the issuing bank will be located in Costa Rica.

The ______ encourages international trade by maintaining stable foreign exchange rates and works closely with commercial banks to promote orderly exchange policies with members.

Creation of a foreign subsidiary eliminates the risk to a domestic parent firm.

Public international law examines relationships created by commercial transactions.

Most international contracts contain choice of law and forum provisions to

To sue a foreign firm in the United States,a plaintiff must

A country may choose to accept the International Court of Justice's jurisdiction only when the use of the Court may suit its own interests.

With respect to the sale of goods,the Convention on the International Sale of Goods (CISG)states that

Which of the following statements is true of licensing arrangements?

The World Intellectual Property Organizations Arbitration and Mediation Center hears cases involving

The Central America-Dominican Republic Free Trade Agreement is designed to eliminate the barriers on products trades between its member countries.

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

Filters

Exam 12: International Law

The European Union is solely a political partnership among 28 democratic European countries.

The World Trade Organization is the only global international trade organization dealing with the rules of trade between nations.

The International Court of Justice

The ______ grants jurisdiction to U.S.federal district courts over any civil action by an alien for a tort only,committed in violation of the law of nations or a treaty of the United States.

If a buyer from United States enters into a trade deal with a seller from Costa Rica,and an irrevocable letter of credit is involved,the issuing bank will be located in Costa Rica.

The ______ encourages international trade by maintaining stable foreign exchange rates and works closely with commercial banks to promote orderly exchange policies with members.

Creation of a foreign subsidiary eliminates the risk to a domestic parent firm.

Public international law examines relationships created by commercial transactions.

Most international contracts contain choice of law and forum provisions to

To sue a foreign firm in the United States,a plaintiff must

A country may choose to accept the International Court of Justice's jurisdiction only when the use of the Court may suit its own interests.

With respect to the sale of goods,the Convention on the International Sale of Goods (CISG)states that

Which of the following statements is true of licensing arrangements?

The World Intellectual Property Organizations Arbitration and Mediation Center hears cases involving

The Central America-Dominican Republic Free Trade Agreement is designed to eliminate the barriers on products trades between its member countries.

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

Filters