Exam 23: International Law in a Global Economy

Under the principle of comity,a foreign business that deals with a U.S.business may be subject to U.S.law.

Significant business develops in Mexico for Natural Beauty Cosmetics,Inc.,a U.S.firm.Natural Beauty appoints Ojos,Ltd.,a Mexican firm,to act as Natural Beauty's marketing representative in Mexico.This is

Legal systems around the globe are generally divided into common law and civil law systems.

Few nations have restrictions on imports.

A foreign citizen can bring a civil suit in a U.S.court for a violation of a treaty of the United States.

The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders.The power to enforce international law within the borders of all nations rests with

Wang Ltd.,a Chinese firm,imports its goods into the United States and offers those goods for sale at "less than fair value." This is

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

The chief aim of the European Union and other trade organizations is to minimize trade barriers among their members.

A treaty is a contract or other agreement between two or more nations that must be ratified by the United Nations to take effect.

Noggin Development Corporation,a U.S.firm,wishes to participate,but limit its involvement,in Middle Eastern markets.Noggin empowers Ousai,Ltd.,a Dubai firm,to enter into contracts in certain countries on Noggin's behalf.This is

Nick,or Nora,or any U.S.citizen,can bring a civil suit in a U.S.court against a foreign entity

The simplest way for a U.S.firm to do business in a foreign mar?ket is to ex?port its products directly to that market.

The United States taxes each barrel of imported oil at a flat rate.This is

Firms overseas have almost total legal protection against government acts in the countries in which they operate,under the act of state doctrine.

The Association of Southeast Asian Nations is a regional trade associa?tion that was created through

The doctrine of sover?eign immu?nity can immunize a foreign nation from the jurisdiction of U.S.courts.

When a nation moves from a state-controlled economy toward free enterprise,it must develop a new set of business laws.If you could start from scratch,what kind of business law system would you adopt-a civil law system or a common law system? What factors should be considered in deciding the business regulations to impose?

In the global environment of business,the law of a particular nation,such as Brazil,China,or India,is classified as

Confiscation occurs when a government seizes private property for an il?legal pur?pose and without just compensation.