Question 1

Under U.S. law, a firm or individual can compel the U.S. government to press a claim on its behalf before the International Court of Justice.

Accepted Answer

A) True 
 B)False  False

Question 2

The International Court of Justice:

Accepted Answer

A)  is made up of nine judges. 
B)  allows all nations to initiate a case before it. 
C)  hears cases of countries that have submitted to the Court's jurisdiction. 
D)  can render opinions only when faced with an actual case. 
E)  has been a major force in settling disputes since it began functioning. 
A)  is made up of nine judges. 
B)  allows all nations to initiate a case before it. 
C)  hears cases of countries that have submitted to the Court's jurisdiction. 
D)  can render opinions only when faced with an actual case. 
E)  has been a major force in settling disputes since it began functioning. C

Question 3

Infractions of international law are most frequently settled by:

Accepted Answer

A)  diplomacy. 
B)  formal charges. 
C)  economic sanctions. 
D)  ICJ decision. 
E)  penalties and damages. 
A)  diplomacy. 
B)  formal charges. 
C)  economic sanctions. 
D)  ICJ decision. 
E)  penalties and damages. A

Question 4

The Convention on the International Sale of Goods does not require contracts for the sale of goods to be in writing.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a reason a firm may enter a licensing agreement?

Accepted Answer

A)  Licensing allow firms to enter a foreign market without direct foreign investments. 
B)  A firm enters a licensing agreement to expand once it has substantial capital. 
C)  Licensing is the next step a firm must take, after it has established sufficient research and development. 
D)  Licensing is a technique that firms use when applying management skills and marketing strategies. 
E)  Licensing agreement is a risk free method to expand in foreign markets. 
A)  Licensing allow firms to enter a foreign market without direct foreign investments. 
B)  A firm enters a licensing agreement to expand once it has substantial capital. 
C)  Licensing is the next step a firm must take, after it has established sufficient research and development. 
D)  Licensing is a technique that firms use when applying management skills and marketing strategies. 
E)  Licensing agreement is a risk free method to expand in foreign markets.

Question 6

Discuss the primary goals of the United Nations.

Accepted Answer

The Charter of the United Nations sets f

Question 7

Which of the following is true of the Convention on the International Sale of Goods?

Accepted Answer

A)  It outlines standard international practices for the sale of goods. 
B)  It encourages international trade by maintaining stable foreign exchange rates. 
C)  It promotes economic development in poor countries by making loans to finance necessary development projects and programs. 
D)  It ascertains what public international law is. 
E)  It 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." 
A)  It outlines standard international practices for the sale of goods. 
B)  It encourages international trade by maintaining stable foreign exchange rates. 
C)  It promotes economic development in poor countries by making loans to finance necessary development projects and programs. 
D)  It ascertains what public international law is. 
E)  It 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."

Question 8

What are some of the criticisms of the World Trade Organization?

Accepted Answer

The WTO is an international organization

Question 9

_____ is used in the context of international law as the seizure of foreign-owned property by a government.

Accepted Answer

A)  Nationalization 
B)  Possession 
C)  Power of eminent domain 
D)  Export Controls 
E)  Expropriation 
A)  Nationalization 
B)  Possession 
C)  Power of eminent domain 
D)  Export Controls 
E)  Expropriation

Question 10

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

Question 11

By using of a letter of credit, the buyer need not pay the seller for goods prior to shipment and the seller can obtain payment for the goods immediately upon shipment. Use of a letter of credit in the transaction reduces the uncertainties involved.

Accepted Answer

A) True 
 B)False

Question 12

A licensing agreement allows an international business to enter a foreign market without any direct foreign investment.

Accepted Answer

A) True 
 B)False

Question 13

Parties can use arbitration to avoid the unwanted publicity that often results in open court proceedings.

Accepted Answer

A) True 
 B)False

Question 14

What is the modern traditional theory of expropriation, and what are the problems associated with it?

Accepted Answer

The modern traditional theory states tha

Question 15

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)  General Agreement in Tariffs and Trade 
D)  International Monetary Fund 
E)  Convention on International Sale of Goods 
A)  World Bank 
B)  World Trade Organization 
C)  General Agreement in Tariffs and Trade 
D)  International Monetary Fund 
E)  Convention on International Sale of Goods

Question 16

When a buyer receives a receipt from a carrier stating that the goods ordered have been shipped to the designated place for delivery, the receipt is called _____.

Accepted Answer

A)  an irrevocable letter of credit 
B)  a bill of exchange 
C)  a bill of lading 
D)  an identity note 
E)  a promissory note 
A)  an irrevocable letter of credit 
B)  a bill of exchange 
C)  a bill of lading 
D)  an identity note 
E)  a promissory note

Question 17

What effect has the International Court of Justice had on settling international disputes?

Accepted Answer

The ICJ has not been a major f

Question 18

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 19

The Charter of the United Nations sets forth as its primary goal:

Accepted Answer

A)  combating corruption and corrupt practices in other countries. 
B)  providing individual measures for the prevention and removal of threats to peace. 
C)  ensuring that justice is delivered at all levels in all member countries. 
D)  implementing a just and fair international law that guides international commercial transactions. 
E)  eradicating cyber-squatting and criminal practices involving the Internet, in all member countries. 
A)  combating corruption and corrupt practices in other countries. 
B)  providing individual measures for the prevention and removal of threats to peace. 
C)  ensuring that justice is delivered at all levels in all member countries. 
D)  implementing a just and fair international law that guides international commercial transactions. 
E)  eradicating cyber-squatting and criminal practices involving the Internet, in all member countries.

Question 20

Generally, international law is classified as:

Accepted Answer

A)  public international law. 
B)  criminal international law. 
C)  common international law. 
D)  civil international law. 
E)  business international law. 
A)  public international law. 
B)  criminal international law. 
C)  common international law. 
D)  civil international law. 
E)  business international law.

Exam 12: International Law

Under U.S. law, a firm or individual can compel the U.S. government to press a claim on its behalf before the International Court of Justice.

The International Court of Justice:

Infractions of international law are most frequently settled by:

The Convention on the International Sale of Goods does not require contracts for the sale of goods to be in writing.

Which of the following is a reason a firm may enter a licensing agreement?

Discuss the primary goals of the United Nations.

Which of the following is true of the Convention on the International Sale of Goods?

What are some of the criticisms of the World Trade Organization?

_____ is used in the context of international law as the seizure of foreign-owned property by a government.

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."

By using of a letter of credit, the buyer need not pay the seller for goods prior to shipment and the seller can obtain payment for the goods immediately upon shipment. Use of a letter of credit in the transaction reduces the uncertainties involved.

A licensing agreement allows an international business to enter a foreign market without any direct foreign investment.

Parties can use arbitration to avoid the unwanted publicity that often results in open court proceedings.

What is the modern traditional theory of expropriation, and what are the problems associated with it?

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

When a buyer receives a receipt from a carrier stating that the goods ordered have been shipped to the designated place for delivery, the receipt is called _____.

What effect has the International Court of Justice had on settling international disputes?

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

The Charter of the United Nations sets forth as its primary goal:

Generally, international law is classified as:

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