Question 1

Under the Foreign Sovereign Immunities Act, a foreign sovereign is:

Accepted Answer

A) immune from all suits in the United States. 
B) not immune from suits in the United States involving commercial acts. 
C) not immune from any type of suit in the United States. 
D) None of the above. 
A) immune from all suits in the United States. 
B) not immune from suits in the United States involving commercial acts. 
C) not immune from any type of suit in the United States. 
D) None of the above.

Question 2

The European Community was formed through a merger between the Common Market, the European Coal and Steel Community, and the European Atomic Energy Community.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is correct with respect to the act of state doctrine?

Accepted Answer

A) It allows foreign countries to be liable for their torts. 
B) It allows state governments in the United States to ignore treaties entered into by the United States. 
C) It provides that the judicial branch of a nation should not question the validity of actions taken by a foreign government within that foreign sovereign's own borders. 
D) It is a very recent addition to U.S.law. 
A) It allows foreign countries to be liable for their torts. 
B) It allows state governments in the United States to ignore treaties entered into by the United States. 
C) It provides that the judicial branch of a nation should not question the validity of actions taken by a foreign government within that foreign sovereign's own borders. 
D) It is a very recent addition to U.S.law.

Question 4

Peterson, an American exporter, sells lumber to a Japanese importer, using a documentary letter of credit.Typically in this situation, the correspondent bank will be in Japan.

Accepted Answer

A) True 
 B)False

Question 5

A multinational enterprise wishing to exploit a patent may choose to sell a foreign company the right to use the property rather than entering the foreign market itself.The sale of such rights is licensing.

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.
-garnishment

Accepted Answer

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

Question 7

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.
-due diligence

Accepted Answer

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

Question 8

The Sherman Act:

Accepted Answer

A) applies to acts committed overseas by U.S.corporations. 
B) would not apply to an act committed in the United States by a foreign corporation. 
C) would not apply to an act overseas by a 100 percent-owned foreign subsidiary of a U.S.corporation. 
D) never applies to acts committed outside the U.S. 
A) applies to acts committed overseas by U.S.corporations. 
B) would not apply to an act committed in the United States by a foreign corporation. 
C) would not apply to an act overseas by a 100 percent-owned foreign subsidiary of a U.S.corporation. 
D) never applies to acts committed outside the U.S.

Question 9

The flow of trade is affected by trade barriers on imports and exports.

Accepted Answer

A) True 
 B)False

Question 10

In international business transactions, a documentary letter of credit:

Accepted Answer

A) is a method of payment for goods that reduces the seller's risk from the possibility that the goods will be shipped, but not paid for. 
B) is a type of bill of lading. 
C) is a guarantee by the seller's bank that it will pay the price of the exported goods if the seller breaches the contract. 
D) All of the above. 
A) is a method of payment for goods that reduces the seller's risk from the possibility that the goods will be shipped, but not paid for. 
B) is a type of bill of lading. 
C) is a guarantee by the seller's bank that it will pay the price of the exported goods if the seller breaches the contract. 
D) All of the above.

Question 11

NAFTA establishes a free trade area among the United States and Mexico but not Canada.

Accepted Answer

A) True 
 B)False

Question 12

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.
-consumer credit

Accepted Answer

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

Question 13

International contracts should specify the contract's official language and define all of the significant legal terms it incorporates.

Accepted Answer

A) True 
 B)False

Question 14

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.
-tender offer

Accepted Answer

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

Question 15

An "antidumping" statute:

Accepted Answer

A) is applied to both foreign companies and domestic companies which charge a higher price for products sold in the U.S.than the price charged abroad. 
B) has been declared invalid because of the inherent discrimination against foreign corporations. 
C) is administered by the FTC. 
D) makes illegal the sale of exported goods from one country to another country at less than normal value. 
A) is applied to both foreign companies and domestic companies which charge a higher price for products sold in the U.S.than the price charged abroad. 
B) has been declared invalid because of the inherent discrimination against foreign corporations. 
C) is administered by the FTC. 
D) makes illegal the sale of exported goods from one country to another country at less than normal value.

Question 16

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.
-security

Accepted Answer

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

Question 17

Under U.S.law, the CISG supersedes the UCC whenever either could apply.

Accepted Answer

A) True 
 B)False

Question 18

Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders is referred to as a:

Accepted Answer

A) multinational enterprise. 
B) joint venture. 
C) flow of trade enterprise. 
D) flow of capital business. 
A) multinational enterprise. 
B) joint venture. 
C) flow of trade enterprise. 
D) flow of capital business.

Question 19

The CISG specifically excludes sales of which of the following?

Accepted Answer

A) Goods bought for personal, family, or household use. 
B) Ships or aircraft. 
C) Electricity. 
D) All of the above. 
A) Goods bought for personal, family, or household use. 
B) Ships or aircraft. 
C) Electricity. 
D) All of the above.

Question 20

A letter of credit is a promise by a buyer's bank to pay the seller, provided certain conditions are met.

Accepted Answer

A) True 
 B)False

Exam 47: International Business Law

Under the Foreign Sovereign Immunities Act, a foreign sovereign is:

The European Community was formed through a merger between the Common Market, the European Coal and Steel Community, and the European Atomic Energy Community.

Which of the following is correct with respect to the act of state doctrine?

Peterson, an American exporter, sells lumber to a Japanese importer, using a documentary letter of credit.Typically in this situation, the correspondent bank will be in Japan.

A multinational enterprise wishing to exploit a patent may choose to sell a foreign company the right to use the property rather than entering the foreign market itself.The sale of such rights is licensing.

The Sherman Act:

The flow of trade is affected by trade barriers on imports and exports.

In international business transactions, a documentary letter of credit:

NAFTA establishes a free trade area among the United States and Mexico but not Canada.

International contracts should specify the contract's official language and define all of the significant legal terms it incorporates.

An "antidumping" statute:

Under U.S.law, the CISG supersedes the UCC whenever either could apply.

Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders is referred to as a:

The CISG specifically excludes sales of which of the following?

A letter of credit is a promise by a buyer's bank to pay the seller, provided certain conditions are met.

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