Question 1

Export controls:

Accepted Answer

A)  function in the same way as import controls. 
B)  are placed on U.S. products and technology abroad. 
C)  are the confiscation of foreign-owned property by a government. 
D)  are similar to nationalization. 
E)  are the power of eminent domain. 
A)  function in the same way as import controls. 
B)  are placed on U.S. products and technology abroad. 
C)  are the confiscation of foreign-owned property by a government. 
D)  are similar to nationalization. 
E)  are the power of eminent domain.

Question 2

International law is generally classified as either public or private international law. Compare and contrast these two types.

Accepted Answer

Public international law examines the re

Question 3

Transactions using _____ involve, in addition to a seller and buyer, an issuing bank in the buyer's country.

Accepted Answer

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

Question 4

Public international law examines relationships created by commercial transactions.

Accepted Answer

A) True 
 B)False

Question 5

The arbitration process likely is more will be more streamlined and easier for the parties to understand than litigating the dispute in a foreign court.

Accepted Answer

A) True 
 B)False

Question 6

In 1994, the Uruguay Round incorporated all of the following principles from the General Agreement on Tariffs and Trades except:

Accepted Answer

A)  equalization of import quotas. 
B)  national treatment. 
C)  non-discrimination. 
D)  elimination of trade barriers. 
E)  reducing tariffs. 
A)  equalization of import quotas. 
B)  national treatment. 
C)  non-discrimination. 
D)  elimination of trade barriers. 
E)  reducing tariffs.

Question 7

_____ decides the nature and parameters of EU law.

Accepted Answer

A)  The Parliament 
B)  The Commission 
C)  The Court of Justice 
D)  The Council 
E)  The Council of Ministers 
A)  The Parliament 
B)  The Commission 
C)  The Court of Justice 
D)  The Council 
E)  The Council of Ministers

Question 8

Intermediaries, under the FCPA, are:

Accepted Answer

A)  given restricted rights to make payments to a foreign official. 
B)  allowed to make payments to a foreign official. 
C)  prohibited from making payments that can go to a foreign official. 
D)  prohibited from all types of international trade. 
E)  a recommended mode to make payments to foreign officials. 
A)  given restricted rights to make payments to a foreign official. 
B)  allowed to make payments to a foreign official. 
C)  prohibited from making payments that can go to a foreign official. 
D)  prohibited from all types of international trade. 
E)  a recommended mode to make payments to foreign officials.

Question 9

Discuss the role of intermediaries under the FCPA.

Accepted Answer

The FCPA also prohibits corrupt payments

Question 10

Which of the following is true of the Foreign Corrupt Practices Act of 1977?

Accepted Answer

A)  It prosecutes any foreign official body that bribes American officials. 
B)  It is designed to watch over the import-export transactions. 
C)  It prohibits American citizens from doing business with countries that have a high level of corruption. 
D)  It is designed to stop bribery of foreign officials by American citizens. 
E)  It governs the corrupt practices in countries doing business with American citizens. 
A)  It prosecutes any foreign official body that bribes American officials. 
B)  It is designed to watch over the import-export transactions. 
C)  It prohibits American citizens from doing business with countries that have a high level of corruption. 
D)  It is designed to stop bribery of foreign officials by American citizens. 
E)  It governs the corrupt practices in countries doing business with American citizens.

Question 11

What are the reasons for a company to create a foreign subsidiary in a host country?

Accepted Answer

As a business increases its level of int

Question 12

Which of the following is a risk involved with regard to the sale of U.S. strategic products and technology abroad?

Accepted Answer

A)  Import controls 
B)  Material controls 
C)  Export controls 
D)  Sales controls 
E)  Transaction controls 
A)  Import controls 
B)  Material controls 
C)  Export controls 
D)  Sales controls 
E)  Transaction controls

Question 13

______ opened up many opportunities for business between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic, and the United States.

Accepted Answer

A)  North America Free Trade Agreement 
B)  Central America- Dominican Republic Free Trade Agreement 
C)  U.S.-Colombia Free Trade Agreement 
D)  Uruguay Round Agreements 
E)  Convention on the International Sale of Goods 
A)  North America Free Trade Agreement 
B)  Central America- Dominican Republic Free Trade Agreement 
C)  U.S.-Colombia Free Trade Agreement 
D)  Uruguay Round Agreements 
E)  Convention on the International Sale of Goods

Question 14

The World Trade Organization was created as a result of the:

Accepted Answer

A)  Geneva Convention. 
B)  Uruguay Round. 
C)  Bretton-Woods Conference. 
D)  Asian-Pacific Round. 
E)  Convention of International Sale of Goods 
A)  Geneva Convention. 
B)  Uruguay Round. 
C)  Bretton-Woods Conference. 
D)  Asian-Pacific Round. 
E)  Convention of International Sale of Goods

Question 15

Which of the following is true of a joint venture?

Accepted Answer

A)  It takes place when a domestic firm may choose to grant a foreign firm the means to produce and sell its product. 
B)  It takes place when a company launches another company which it partially or completely owns in a foreign country. 
C)  It takes place when a company designates a national firm or individual of the host country as its legal representative. 
D)  It takes place when a company invests in a country by engaging in business with an entity from that country. 
E)  It takes place when a company merges with a company from the host country. 
A)  It takes place when a domestic firm may choose to grant a foreign firm the means to produce and sell its product. 
B)  It takes place when a company launches another company which it partially or completely owns in a foreign country. 
C)  It takes place when a company designates a national firm or individual of the host country as its legal representative. 
D)  It takes place when a company invests in a country by engaging in business with an entity from that country. 
E)  It takes place when a company merges with a company from the host country.

Question 16

In suing a foreign firm in the United States, a plaintiff must comply with the terms of the Convention of International Sale of Goods.

Accepted Answer

A) True 
 B)False

Question 17

Grimmy Fast Food Ltd., located in New York, grants Truffle Eateries, a chain of restaurants in Paris, permission to produce and sell Grimmy's famous pizzas. Truffle will launch Grimmy's in Paris and sell the products. This is an example of which of the following?

Accepted Answer

A)  Foreign subsidiary 
B)  Direct foreign investment 
C)  Sovereign immunity 
D)  Franchise 
E)  International trade 
A)  Foreign subsidiary 
B)  Direct foreign investment 
C)  Sovereign immunity 
D)  Franchise 
E)  International trade

Question 18

Which of the following is true of the International Court of Justice?

Accepted Answer

A)  Private parties and corporations have access to the court and can directly present their claims. 
B)  Using legal devices, firms and individuals can compel the U.S. government to press claims on their behalf before the Court. 
C)  Only countries that have submitted to the Court's jurisdiction may be parties. 
D)  The Court has enforcement authority and does not rely on diplomacy or economic sanctions against countries. 
E)  It is compulsory for all countries to accept the Court's jurisdiction, whether or not the use of the Court suits their interests. 
A)  Private parties and corporations have access to the court and can directly present their claims. 
B)  Using legal devices, firms and individuals can compel the U.S. government to press claims on their behalf before the Court. 
C)  Only countries that have submitted to the Court's jurisdiction may be parties. 
D)  The Court has enforcement authority and does not rely on diplomacy or economic sanctions against countries. 
E)  It is compulsory for all countries to accept the Court's jurisdiction, whether or not the use of the Court suits their interests.

Question 19

When a government assumes ownership of confiscated property, it also includes the process of _____.

Accepted Answer

A)  nationalization 
B)  expropriation 
C)  power of eminent domain 
D)  mortgage 
E)  exclusion 
A)  nationalization 
B)  expropriation 
C)  power of eminent domain 
D)  mortgage 
E)  exclusion

Question 20

What are some of the advantages of the arbitration of international disputes?

Accepted Answer

Some of the advantages of international

Exam 12: International Law

Export controls:

International law is generally classified as either public or private international law. Compare and contrast these two types.

Transactions using _____ involve, in addition to a seller and buyer, an issuing bank in the buyer's country.

Public international law examines relationships created by commercial transactions.

The arbitration process likely is more will be more streamlined and easier for the parties to understand than litigating the dispute in a foreign court.

In 1994, the Uruguay Round incorporated all of the following principles from the General Agreement on Tariffs and Trades except:

_____ decides the nature and parameters of EU law.

Intermediaries, under the FCPA, are:

Discuss the role of intermediaries under the FCPA.

Which of the following is true of the Foreign Corrupt Practices Act of 1977?

What are the reasons for a company to create a foreign subsidiary in a host country?

Which of the following is a risk involved with regard to the sale of U.S. strategic products and technology abroad?

______ opened up many opportunities for business between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic, and the United States.

The World Trade Organization was created as a result of the:

Which of the following is true of a joint venture?

In suing a foreign firm in the United States, a plaintiff must comply with the terms of the Convention of International Sale of Goods.

Grimmy Fast Food Ltd., located in New York, grants Truffle Eateries, a chain of restaurants in Paris, permission to produce and sell Grimmy's famous pizzas. Truffle will launch Grimmy's in Paris and sell the products. This is an example of which of the following?

Which of the following is true of the International Court of Justice?

When a government assumes ownership of confiscated property, it also includes the process of _____.

What are some of the advantages of the arbitration of international disputes?

Law As a Foundation for Business

The Role of Ethics in Decision Making

The Court System

Litigation

Alternative Dispute Resolution

The Constitution

The Property System

Contract Formation

Contractual Performance and Breach

Torts Affecting Business

Intellectual Property

Criminal Law and Business

Business Organizations

The Regulatory Process

Regulating Competition_Antitrust Laws

Financial and Securities Regulations

Privacy and Consumer Protection

Environmental Regulation and Resource Sustainability

Discrimination in Employment

Employment Laws

Labor-Management Relationship

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