Question 1

The seller contracts directly with the buyer in the other country under a:

Accepted Answer

A) multilateral trade agreement. 
B) direct export sale. 
C) flow of trade. 
D) None of the above. 
A) multilateral trade agreement. 
B) direct export sale. 
C) flow of trade. 
D) None of the above. B

Question 2

Azurzerapi Corporation plans to start marketing products worldwide.What forms of multinational business enterprise should it consider? What are the main characteristics of each form?

Accepted Answer

It should consider the use of a wholly owned subsidiary, distributorships, joint ventures, licensing to a foreign firm, the use of foreign agents, and direct export sales.A wholly owned subsidiary would require the most active participation by Azurzerapi, but would allow it to retain authority and control.If Azurzerapi uses a distributorship, it would appoint a foreign distributor who would take title to Azurzerapi's goods and bear risks connected with the sale of those goods. Azurzerapi would have to be careful not to violate antitrust laws.For a joint venture, Azurzerapi would join with an independent business from another country to achieve a common result.Each company could be responsible for what it does best.With licensing, Azurzerapi could sell the right to use an intellectual property right, such as a trademark or patent, to a foreign company.A foreign agent may be used if Azurzerapi wants limited involvement in the international market.The agent generally does not take title to goods, but would make contracts or solicit orders on Azurzerapi's behalf.With direct export sales, Azurzerapi would contract directly with buyers in another country.This is the simplest multinational enterprise.

Question 3

The European Union currently has how many full members?

Accepted Answer

A) 10. 
B) 15. 
C) 25. 
D) 27. 
A) 10. 
B) 15. 
C) 25. 
D) 27. D

Question 4

Confiscation and expropriation of property by a foreign government violate generally observed principles of international law.

Accepted Answer

A) True 
 B)False

Question 5

The Foreign Corrupt Practices Act makes it illegal for an American company to offer or pay money to a foreign official to influence a decision of that official even if the offer is not accepted.

Accepted Answer

A) True 
 B)False

Question 6

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-bubble concept

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 7

OPIC was established to facilitate the participation of U.S.private capital and skills in the economic and social development of countries in transition from nonmarket to market economies.

Accepted Answer

A) True 
 B)False

Question 8

Like domestic law, international law can be easily enforced, because international courts have compulsory jurisdiction.

Accepted Answer

A) True 
 B)False

Question 9

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-patent

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 10

Governments can use nontariff barriers to give local industries a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 11

Kelly has just been appointed the manager of a company that has begun the direct export of its product.What precautions should he take to assure that the company would in fact be paid for its products when the company has never dealt with the buyers before and is new to the international legal environment?

Accepted Answer

The company should have a good working r

Question 12

The World Bank established the MIGA to eliminate the practice of dumping.

Accepted Answer

A) True 
 B)False

Question 13

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-per se

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 14

Define and discuss the doctrine of "sovereign immunity." Discuss how the Foreign Sovereign Immunities Act of 1976 has codified this area of law.Give examples of how the Act works.

Accepted Answer

In order to maintain international relat

Question 15

Assume that Denmark, a member of the European Community, is contemplating the enactment of a protective tariff for its fledgling CD industry due to domestic political and economic pressures.Assume further that the EC has a tariff that it has also enacted for all CD manufacturers within the EC that is considerably lower than the one that is being proposed in Denmark.The policy behind the lower EC tariff is to promote freer trade even at the risk of destroying some of the weaker manufacturers in that organization.In this situation:

Accepted Answer

A) Denmark could enact the higher tariff since EC members give up no authority to the organization in regulating trade and business practices. 
B) Generally, when EC economic policies conflict with the laws of member nations, EC law will prevail.Thus, Denmark's tariff may be illegal. 
C) Denmark could petition the United Nations Council of Economic Policy and if it concurs with Denmark, the EC tariff policy would be overridden. 
D) Assuming Denmark is a signatory to the WTO, Denmark could retain its higher tariff since the purpose of the WTO is to protect domestic industries by promoting higher tariffs. 
A) Denmark could enact the higher tariff since EC members give up no authority to the organization in regulating trade and business practices. 
B) Generally, when EC economic policies conflict with the laws of member nations, EC law will prevail.Thus, Denmark's tariff may be illegal. 
C) Denmark could petition the United Nations Council of Economic Policy and if it concurs with Denmark, the EC tariff policy would be overridden. 
D) Assuming Denmark is a signatory to the WTO, Denmark could retain its higher tariff since the purpose of the WTO is to protect domestic industries by promoting higher tariffs.

Question 16

The European Community was the predecessor to the:

Accepted Answer

A) ICJ. 
B) GATT. 
C) CISG. 
D) EU. 
A) ICJ. 
B) GATT. 
C) CISG. 
D) EU.

Question 17

"Normal value" is the price that would be charged for the same or a similar product in the ordinary course of trade for domestic consumption in the exporting country, under the World Trade Organization's:

Accepted Answer

A) tariff regulations. 
B) nontariff barrier. 
C) Antidumping Code. 
D) export controls. 
A) tariff regulations. 
B) nontariff barrier. 
C) Antidumping Code. 
D) export controls.

Question 18

The World Bank established the Multilateral Investment Guarantee Agency to encourage increased investment in developing nations.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is an objective of the European Union?

Accepted Answer

A) To create cultural diversity among the member nations to increase tourism. 
B) To develop individual national autonomy on justice and home affairs. 
C) To promote economic and social progress by creating an area without internal borders and by establishing an economic and monetary union. 
D) None of the above. 
A) To create cultural diversity among the member nations to increase tourism. 
B) To develop individual national autonomy on justice and home affairs. 
C) To promote economic and social progress by creating an area without internal borders and by establishing an economic and monetary union. 
D) None of the above.

Question 20

Discuss how an owner of intellectual property protects those rights in other countries.

Accepted Answer

U.S.laws protecting intellectual propert

Exam 47: International Business Law

The seller contracts directly with the buyer in the other country under a:

Azurzerapi Corporation plans to start marketing products worldwide.What forms of multinational business enterprise should it consider? What are the main characteristics of each form?

The European Union currently has how many full members?

Confiscation and expropriation of property by a foreign government violate generally observed principles of international law.

The Foreign Corrupt Practices Act makes it illegal for an American company to offer or pay money to a foreign official to influence a decision of that official even if the offer is not accepted.

OPIC was established to facilitate the participation of U.S.private capital and skills in the economic and social development of countries in transition from nonmarket to market economies.

Like domestic law, international law can be easily enforced, because international courts have compulsory jurisdiction.

Governments can use nontariff barriers to give local industries a competitive advantage.

The World Bank established the MIGA to eliminate the practice of dumping.

Define and discuss the doctrine of "sovereign immunity." Discuss how the Foreign Sovereign Immunities Act of 1976 has codified this area of law.Give examples of how the Act works.

The European Community was the predecessor to the:

"Normal value" is the price that would be charged for the same or a similar product in the ordinary course of trade for domestic consumption in the exporting country, under the World Trade Organization's:

The World Bank established the Multilateral Investment Guarantee Agency to encourage increased investment in developing nations.

Which of the following is an objective of the European Union?

Discuss how an owner of intellectual property protects those rights in other countries.

Introduction to Law

Business Ethics

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer

Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

Environmental Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

Filters