Question 1

Which of the following is a major institution of the European Union?

Accepted Answer

A)  The Secretary Council 
B)  The International Court of Justice 
C)  The Council of Members 
D)  The House of Representatives 
E)  The Council of Ministers 
A)  The Secretary Council 
B)  The International Court of Justice 
C)  The Council of Members 
D)  The House of Representatives 
E)  The Council of Ministers

Question 2

Explain what is expropriation and nationalization.

Accepted Answer

Expropriation, as used in the context of

Question 3

How have U.S. businesses enhanced their business position with foreign countries without paying bribes and violating the Foreign Corrupt Practices Act?

Accepted Answer

Since bribes were outlawed under the FCP

Question 4

The Convention on the International Sale of Goods (CISG) outlines standard international practices for the sale of goods.

Accepted Answer

A) True 
 B)False

Question 5

The International Court of Justice is also called the:

Accepted Answer

A)  World Court. 
B)  Supreme World Court. 
C)  World Chancery Court. 
D)  Court of International Acclaim. 
E)  World Trade Court. 
A)  World Court. 
B)  Supreme World Court. 
C)  World Chancery Court. 
D)  Court of International Acclaim. 
E)  World Trade Court.

Question 6

Discuss the advantages of the Convention on the International Sale of Goods.

Accepted Answer

The CISG is a positive alternative to us

Question 7

Discuss the concept of a joint venture.

Accepted Answer

In many instances the only legal or poli

Question 8

The International Court of Justice has been a major force in settling disputes since it began functioning in 1946.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not a permissible payment for routine government action under the Foreign Corrupt Practices Act?

Accepted Answer

A)  Obtaining permits. 
B)  Processing visas. 
C)  Travel expenses to a foreign official for performing a contractual obligation. 
D)  Scheduling inspections associated with the transit of goods across the country. 
E)  Loading and unloading cargo. 
A)  Obtaining permits. 
B)  Processing visas. 
C)  Travel expenses to a foreign official for performing a contractual obligation. 
D)  Scheduling inspections associated with the transit of goods across the country. 
E)  Loading and unloading cargo.

Question 10

Which of the following is true of licensing arrangements?

Accepted Answer

A)  Licensing requires international businesses to make direct foreign investment to enter foreign markets. 
B)  Licensing often is used by firms as an expansion technique in the domestic market. 
C)  Licensing agreements must follow the local laws where they operate. 
D)  Licensing agreements are governed by international trade and business laws. 
E)  Licensing technology requires substantial capital to expand a company's market. 
A)  Licensing requires international businesses to make direct foreign investment to enter foreign markets. 
B)  Licensing often is used by firms as an expansion technique in the domestic market. 
C)  Licensing agreements must follow the local laws where they operate. 
D)  Licensing agreements are governed by international trade and business laws. 
E)  Licensing technology requires substantial capital to expand a company's market.

Question 11

Discuss the Agreement on Trade-Related Aspects of Intellectual Property Rights.

Accepted Answer

Another important aspect of the WTO is t

Question 12

The World Trade Organization is the only global international trade organization dealing with the rules of trade between nations.

Accepted Answer

A) True 
 B)False

Question 13

The Wassanaar Arrangement was entered into by 33 countries in order to control:

Accepted Answer

A)  monetary value fluctuations encountered by nations when conducting international trade. 
B)  the spread of military and dual use technology to unstable nations. 
C)  the quality control of food and perishables between nations with different individual quality control regulations. 
D)  price gouging by dominant countries when dealing with smaller or weaker countries. 
E)  the impact of corruption on international trade, investments, and business policies. 
A)  monetary value fluctuations encountered by nations when conducting international trade. 
B)  the spread of military and dual use technology to unstable nations. 
C)  the quality control of food and perishables between nations with different individual quality control regulations. 
D)  price gouging by dominant countries when dealing with smaller or weaker countries. 
E)  the impact of corruption on international trade, investments, and business policies.

Question 14

Describe a common method to obtain payment from a buyer in the international sale of goods.

Accepted Answer

Commonly, an irrevocable letter of credi

Question 15

If the United States enters into a trade deal with Costa Rica, with Costa Rica as the seller, and an irrevocable letter of credit is involved, the issuing bank will be located in Costa Rica.

Accepted Answer

A) True 
 B)False

Question 16

The _____ provides for a dispute settlement mechanism that makes it easier to resolve trade disputes between the United States, Mexico, and Canada.

Accepted Answer

A)  Convention on the International Sale of Goods 
B)  North American Free Trade Agreement 
C)  Central America-Dominican Republic Free Trade Agreement 
D)  Foreign Corrupt Practices Act 
E)  General Agreement on Tariffs and Trade 
A)  Convention on the International Sale of Goods 
B)  North American Free Trade Agreement 
C)  Central America-Dominican Republic Free Trade Agreement 
D)  Foreign Corrupt Practices Act 
E)  General Agreement on Tariffs and Trade

Question 17

Which of the following is true concerning the arbitration of international disputes?

Accepted Answer

A)  Arbitration is not widely practiced and, hence, is not an easily available option. 
B)  Arbitration creates more publicity than litigation. 
C)  Arbitration is complex alternative for the parties involved. 
D)  Arbitration can be compelled, where previously agreed upon by the parties. 
E)  Arbitration has been proven to have limited effectiveness concerning international disputes. 
A)  Arbitration is not widely practiced and, hence, is not an easily available option. 
B)  Arbitration creates more publicity than litigation. 
C)  Arbitration is complex alternative for the parties involved. 
D)  Arbitration can be compelled, where previously agreed upon by the parties. 
E)  Arbitration has been proven to have limited effectiveness concerning international disputes.

Question 18

The CISG applies to contracts for the commercial sale of goods (consumer sales for personal, family, or household use are excluded) between parties whose businesses are located in different nations.

Accepted Answer

A) True 
 B)False

Question 19

Under the CSIG, parties are not allowed to negotiate contract terms and cannot opt out of the CISG.

Accepted Answer

A) True 
 B)False

Question 20

Briefly explain what is the doctrine of sovereign immunity?

Accepted Answer

The doctrine of sovereign immunity provi

Exam 12: International Law

Which of the following is a major institution of the European Union?

Explain what is expropriation and nationalization.

How have U.S. businesses enhanced their business position with foreign countries without paying bribes and violating the Foreign Corrupt Practices Act?

The Convention on the International Sale of Goods (CISG) outlines standard international practices for the sale of goods.

The International Court of Justice is also called the:

Discuss the advantages of the Convention on the International Sale of Goods.

Discuss the concept of a joint venture.

The International Court of Justice has been a major force in settling disputes since it began functioning in 1946.

Which of the following is not a permissible payment for routine government action under the Foreign Corrupt Practices Act?

Which of the following is true of licensing arrangements?

Discuss the Agreement on Trade-Related Aspects of Intellectual Property Rights.

The World Trade Organization is the only global international trade organization dealing with the rules of trade between nations.

The Wassanaar Arrangement was entered into by 33 countries in order to control:

Describe a common method to obtain payment from a buyer in the international sale of goods.

If the United States enters into a trade deal with Costa Rica, with Costa Rica as the seller, and an irrevocable letter of credit is involved, the issuing bank will be located in Costa Rica.

The _____ provides for a dispute settlement mechanism that makes it easier to resolve trade disputes between the United States, Mexico, and Canada.

Which of the following is true concerning the arbitration of international disputes?

The CISG applies to contracts for the commercial sale of goods (consumer sales for personal, family, or household use are excluded) between parties whose businesses are located in different nations.

Under the CSIG, parties are not allowed to negotiate contract terms and cannot opt out of the CISG.

Briefly explain what is the doctrine of sovereign immunity?

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The Role of Ethics in Decision Making

The Court System

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Alternative Dispute Resolution

The Constitution

The Property System

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Contractual Performance and Breach

Torts Affecting Business

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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

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