Exam 24: International Law in a Global Economy

An international custom can be defined as "evidence of a general practice accepted as law."

Expropriation occurs when a government seizes a privately owned business or privately owned goods for a proper public purpose and awards just compensation.

A foreign state is always immune from the jurisdiction of U.S.courts unless the state is involved in commercial activity within the United States.

Big Deal! Marketing Company,a U.S.firm,signs a contract with Comercio Exterior,Ltd.,a Chilean firm,to give Comercio the right to use Big Deal!'s animation techniques and characters in product promotions.This is

International contracts rarely include arbitration clauses.

To restrict or encourage exports,Congress can set quotas on various items,such as grain being sold abroad.

Some countries provide insurance for their citizens' investments abroad.

The basis for India to give effect to the laws and court decisions of the United States is primarily

Fresh Meds,Inc.,a U.S.firm,contracts with Gong,Ltd.,a Hong Kong firm,allowing Gong to use and profit from Fresh Meds' patented products.This is

The importation of goods that infringe U.S.patents is not prohibited.

Dynamic Oil Corporation,a U.S.firm,owns property in Ecuador.When the government of Ecuador seizes the property,Dynamic Oil asks a U.S.court to order the property's return.The U.S.court rules that Ecuador is exempt from the court's jurisdiction.This is

The Foreign Sovereign Immunities Act broadly defines commercial activity.

Stardust Coffee Company a U.S.business firm,makes and sells distinctively flavored coffee beverages.Although the recipes are secret,the ingredients could be revealed and the sauces could be reconstructed with diligent efforts.What can Stardust do to prevent its products from being "decoded" and pirated abroad

Mont Blanc S.A.,a French firm,imports its goods into the United States and offers those goods for sale at "less than fair value." "Fair value" is the price of Mont Blanc's goods in

The doctrine of sovereign immunity provides that only a head of state can make treaties with another nation.

International law requires nations to honor the actions of other nations.

Secure Investments,Inc.,a U.S.firm,expands into international markets through a joint venture.In this situation,Secure Investments owns

The International Court of Justice normally has authority to settle legal disputes only when nations voluntarily submit to its jurisdiction.

The principle of comity basically refers to legal reciprocity.

The government of Korea sets a limit on the amount of rice that can be imported from the United States.This is