Question 1

​Sofia, a citizen of Chile, and Trent, a citizen of the United States, enter into a contract. When Trent breaches the contract, Sofia obtains an award of damages in a Chilean court. She asks a U.S. court to enforce the award. The U.S. court defers to and enforces the Chilean court's decree. This is

Accepted Answer

A)  ​a travesty of justice. 
B)  ​the act of state doctrine. 
C)  ​the doctrine of sovereign immunity. 
D)  ​the principle of comity.

Question 2

Finance International Inc., a U.S. firm, and Euro Invest, Ltd., a firm based in Great Britain, are parties to a contract with a choice-of-forum clause. The forum specified in the clause must be within the geographic boundaries of

Accepted Answer

A)  ​the United States. 
B)  ​Great Britain. 
C)  ​none of the choices. 
D)  ​any "choice," or superior, forum.

Question 3

Franchising is a form of licensing.

Accepted Answer

A) True 
 B)False

Question 4

The simplest way for a U.S. firm to do business in a foreign market is to export its products directly to that market.

Accepted Answer

A) True 
 B)False

Question 5

Blue Space Corporation launches exploratory space flights to the moon and Mars. The purpose is to discover and retrieve minerals and other resources. Under U.S. Law, Blue Space

Accepted Answer

A)  ​cannot profit from resources retrieved in space. 
B)  ​cannot legally retrieve resources in space. 
C)  ​must share with all interested parties what it retrieves in space. 
D)  ​owns what it retrieves in space.

Question 6

Alpha WiFi Corporation, a U.S. firm, signs a contract with Bueno Computadores, Ltd., an Argentinean firm, for a shipment and payment for Alpha's goods. This is

Accepted Answer

A)  ​a distribution agreement. 
B)  ​a joint venture. 
C)  ​direct exporting. 
D)  ​licensing.

Question 7

Venezuela seizes the assets of World Oil, Inc., a U.S. firm. World Oil's recovery from Venezuela in a U.S. court may be prevented by

Accepted Answer

A)  ​the act of state doctrine. 
B)  ​the World Trade Organization. 
C)  ​the Central American Free Trade Agreement. 
D)  ​the principle of comity.

Question 8

The Outer Space Treaty declares that internationally recognized political boundaries extend from Earth into the farthest reaches of space.

Accepted Answer

A) True 
 B)False

Question 9

Generally, a foreign government cannot sue under U.S. antitrust laws in U.S. courts.

Accepted Answer

A) True 
 B)False

Question 10

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Accepted Answer

A) True 
 B)False

Question 11

Restrictions on imports include quotas.

Accepted Answer

A) True 
 B)False

Question 12

The chief aim of the European Union is to maximize trade barriers among its members.

Accepted Answer

A) True 
 B)False

Exam 24: International and Space Law

Finance International Inc., a U.S. firm, and Euro Invest, Ltd., a firm based in Great Britain, are parties to a contract with a choice-of-forum clause. The forum specified in the clause must be within the geographic boundaries of

Franchising is a form of licensing.

The simplest way for a U.S. firm to do business in a foreign market is to export its products directly to that market.

Blue Space Corporation launches exploratory space flights to the moon and Mars. The purpose is to discover and retrieve minerals and other resources. Under U.S. Law, Blue Space

Alpha WiFi Corporation, a U.S. firm, signs a contract with Bueno Computadores, Ltd., an Argentinean firm, for a shipment and payment for Alpha's goods. This is

Venezuela seizes the assets of World Oil, Inc., a U.S. firm. World Oil's recovery from Venezuela in a U.S. court may be prevented by

The Outer Space Treaty declares that internationally recognized political boundaries extend from Earth into the farthest reaches of space.

Generally, a foreign government cannot sue under U.S. antitrust laws in U.S. courts.

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Restrictions on imports include quotas.

The chief aim of the European Union is to maximize trade barriers among its members.