Exam 19: International Law in a Global Economy

Congress can use a variety of devices to restrict or encourage exports.

Dark Chocolate,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

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

WiFi Corporation,a U.S. firm,signs a contract with Bueno Computadores,Ltd.,an Argentinean firm,for a shipment and payment for WiFi's goods. This is

Call Center Corporation,a U.S. firm,owns property in India. The government of India seizes the property for a proper public purpose and pays Call Center just compensation. This is

The Foreign Sovereign Immunities Act spells out what a "foreign state" includes.

Business Universal Corporation,a U.S. firm,establishes a wholly owned subsidiary firm in Brazil. In this situation,Business Universal retains complete control and authority over

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

A treaty is a contract or other agreement between two or more nations that must be ratified by the United Nations to take effect.

Telfonix Corporation,a U.S. firm,and Adex,Inc.,a British firm,are parties to a contract with a choice-of-forum clause. The forum specified in the clause must be within the geographic boundaries of

Mont Blanc S.A.,a French firm,imports its goods into the United States and offers those goods for sale at "less than fair value." "Fair value" is the price of Mont Blanc's goods in

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

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Restrictions on imports may not include quotas.

A foreign citizen can bring a civil suit in a U.S. court for a violation of an international tort law.

The United States taxes each barrel of imported oil at a flat rate. This is

AgriWorld,a U.S. firm,owns property in Kenya. The government of Kenya seizes the property. AgriWorld claims that this is confiscation. The government of Kenya claims that it is expropriation. The burden of proof lies with

In a joint venture,the parent company in the United States retains complete ownership and authority over all phases of the operation.

Some countries provide insurance for their citizens' investments abroad.

Premier Clothing,Inc.,a U.S. firm,obtains a judgment in a U.S. court against Quang Tri,Ltd.,a Vietnamese business. Whether the court's judgment will be enforced by a court in Vietnam depends on the Vietnamese court's application of