Exam 16: International Law in a Global Economy

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​

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​

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

When a contract contains a forum selection clause, a lawsuit arising from a dispute under the contract will be heard by a court in the specified forum.

A party to a licensing agreement generally agrees to pay royalties on some basis.

The basis for Mexico to give effect to the laws and court decisions of the United States is primarily

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

Under the Foreign Sovereign Immunities Act, a foreign state can be a political subdivision of a foreign state.

Restrictions on imports may not include tariffs.

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

Northwest Resources, Inc., and Midwest Commodities Corporation are exporting firms that join together to export a line of products. Northwest Resources and Midwest Commodities apply to Commerce Bank for a loan to fund their effort. Under federal law, Commerce and other U.S. banks are​

Franchising is a form of licensing.

According to the Foreign Sovereign Immunities Act, a foreign state that waived its immunity by implication is subject to the jurisdiction of the U.S. courts.

World Metals, Inc., a U.S. firm, wants to file a suit in the United States against a Venezuela government agency, alleging a violation of certain international laws. Under the Foreign Sovereign Immunities Act, the agency is​

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

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 direct exporting, a U.S. company signs a sales contract with a foreign purchaser that provides for the conditions of shipment and payment of goods.

Some countries provide insurance for their citizens' investments abroad.

In the global environment of business, the law of a particular nation, such as Germany, Japan, or the United States, is classified as

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