Question 1

One of the reasons the International Court of Justice (ICJ)is so vital to the resolution of international business disputes is that all parties are bound by the ICJ's decisions.Because of this,the Court has vast enforcement power.

Accepted Answer

A) True 
 B)False

Question 2

It is not a violation of U.S.law for a domestic company to import goods created by forced or indentured child labor if this type of "labor" is commonly allowed in that foreign country.

Accepted Answer

A) True 
 B)False

Question 3

Which statement about private international law is accurate?

Accepted Answer

A) Private international law governs relations among governments and international organizations. 
B) Private international law applies to businesses and individuals. 
C) Private international law includes the law of war. 
D) Private international law sets out the basic rules of human rights.

Question 4

Historically,many countries had dissimilar and confusing intellectual property rules covering copyrights,trademarks,and patents.Which of the following served to clarify and harmonize the trade-related aspects of intellectual property?

Accepted Answer

A) GATT 
B) NAFTA 
C) CISG 
D) TRIPs

Question 5

What is a major argument by the United States against the GATT Treaty?

Accepted Answer

A) The United States competes against countries with unlimited pools of exploited labor. 
B) The treaty limits free trade based on its "most favored nation" requirement. 
C) The United States cannot apply the same taxes on imported goods that it applies to its domestic goods. 
D) The treaty does not provide any means for settling trade disputes between its member states.

Question 6

If a foreign government hires an American consulting firm to help the country's textile industry improve production operations,the contract is commercial,and if the foreign government refuses to pay,the consulting firm may sue the government in American courts.

Accepted Answer

A) True 
 B)False

Question 7

A binding process of resolving legal disputes by submitting them to a neutral third party is called

Accepted Answer

A) mediation. 
B) arbitration. 
C) investigation. 
D) enforcement.

Question 8

The law governing the acquisition of territory and the settlement of disputes among nations​ is public international law.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following organizations was responsible for putting forth the UN Convention for the International Sale of Goods (CISG)and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention)?

Accepted Answer

A) the World Bank 
B) the UN Commission on International Trade Law 
C) the International Monetary Fund 
D) the World Intellectual Property Organization

Question 10

Which of the following is the UN's lawmaking body?

Accepted Answer

A) the Security Council 
B) the Secretariat 
C) the International Court of Justice 
D) the General Assembly

Question 11

Extraterritoriality can be defined as

Accepted Answer

A) the power of one nation to create trade restrictions that involve other countries. 
B) the power to regulate tariffs in foreign nations as provided for by GATT. 
C) the power of one nation to impose its laws in other countries. 
D) the power of a company to extend its subsidiaries overseas without abiding by trade laws.

Question 12

Private international law sets out the basic rules of human rights and laws defining the treatment of refugees,prisoners of war,and international criminals.

Accepted Answer

A) True 
 B)False

Question 13

The Foreign Sovereign Immunities Act (FSIA)provides that American courts generally cannot hear suits against foreign governments.Describe the three possible exceptions to this rule.

Accepted Answer

The answer of The Foreign Sovereign Immunities Act (FSIA)provides that...

Question 14

Notren,Inc. ,a U.S.company,and SWT,a Singapore company,entered into a contract under which SWT is to ship party supplies to Notren.One of the terms of the contract states,"Any disputes that arise under this contract will be resolved in the courts of Singapore." This contract term is a

Accepted Answer

A) letter of credit. 
B) choice of language clause. 
C) choice of forum clause. 
D) draft clause.

Question 15

The United States and Argentina have signed the Convention on Contracts for the International Sale of Goods (CISG).Oxtron,Inc. ,a U.S.company,and Leer,an Argentinean company,have entered into a contract under which Oxtron is to ship medical devices to Leer.The contract does not include a choice of law provision.The contract will be governed by

Accepted Answer

A) the CISG. 
B) the ICC. 
C) the domestic contract law of Argentina. 
D) the domestic contract law of the United States.

Question 16

Which of the following​ is not a lawmaking body but is so influential that many of its voluntary rules,such as the Incoterms,are accepted as the global standard in international business?

Accepted Answer

A) ​International Chamber of Commerce 
B) ​International Court of Justice 
C) ​The United Nation's General Assembly 
D) ​The World Trade Organization

Question 17

Incoterms rules are

Accepted Answer

A) a series of three-letter codes used in international contracts for the sales of goods. 
B) trade agreements promoting common policies among member states. 
C) a series of laws designed to make international contracts more uniform and predictable. 
D) rules outlining when the power of one nation can impose its laws in other countries.

Question 18

An American manufacturer has been asked to provide construction equipment to a foreign government.The contract is for a sizable amount,so the manufacturer wants to protect itself should the foreign government refuse to pay for the equipment once it has been delivered.What should the American manufacturer insist upon having if it wants to protect its right to sue the government in the event it does not pay for the goods?

Accepted Answer

A) a release of sovereignty 
B) a statement of extraterritoriality 
C) a waiver of immunity 
D) a submission of arbitration to the ICA

Question 19

A treaty is said to be _____ when those who have drafted it agree that it is in final form.

Accepted Answer

A) bound 
B) entered into force 
C) ratified 
D) adopted

Question 20

When a dispute arises between different countries,the preferred method of resolution is to litigate the case through the foreign court system because it is less expensive and ​more private to do so.

Accepted Answer

A) True 
 B)False

Exam 3: International Law

One of the reasons the International Court of Justice (ICJ)is so vital to the resolution of international business disputes is that all parties are bound by the ICJ's decisions.Because of this,the Court has vast enforcement power.

It is not a violation of U.S.law for a domestic company to import goods created by forced or indentured child labor if this type of "labor" is commonly allowed in that foreign country.

Which statement about private international law is accurate?

Historically,many countries had dissimilar and confusing intellectual property rules covering copyrights,trademarks,and patents.Which of the following served to clarify and harmonize the trade-related aspects of intellectual property?

What is a major argument by the United States against the GATT Treaty?

If a foreign government hires an American consulting firm to help the country's textile industry improve production operations,the contract is commercial,and if the foreign government refuses to pay,the consulting firm may sue the government in American courts.

A binding process of resolving legal disputes by submitting them to a neutral third party is called

The law governing the acquisition of territory and the settlement of disputes among nations is public international law.

Which of the following organizations was responsible for putting forth the UN Convention for the International Sale of Goods (CISG) and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) ?

Which of the following is the UN's lawmaking body?

Extraterritoriality can be defined as

Private international law sets out the basic rules of human rights and laws defining the treatment of refugees,prisoners of war,and international criminals.

The Foreign Sovereign Immunities Act (FSIA)provides that American courts generally cannot hear suits against foreign governments.Describe the three possible exceptions to this rule.

Notren,Inc. ,a U.S.company,and SWT,a Singapore company,entered into a contract under which SWT is to ship party supplies to Notren.One of the terms of the contract states,"Any disputes that arise under this contract will be resolved in the courts of Singapore." This contract term is a

Which of the following is not a lawmaking body but is so influential that many of its voluntary rules,such as the Incoterms,are accepted as the global standard in international business?

Incoterms rules are

A treaty is said to be _____ when those who have drafted it agree that it is in final form.

When a dispute arises between different countries,the preferred method of resolution is to litigate the case through the foreign court system because it is less expensive and more private to do so.

Exam 3: International Law

One of the reasons the International Court of Justice (ICJ)is so vital to the resolution of international business disputes is that all parties are bound by the ICJ's decisions.Because of this,the Court has vast enforcement power.

It is not a violation of U.S.law for a domestic company to import goods created by forced or indentured child labor if this type of "labor" is commonly allowed in that foreign country.

Which statement about private international law is accurate?

Historically,many countries had dissimilar and confusing intellectual property rules covering copyrights,trademarks,and patents.Which of the following served to clarify and harmonize the trade-related aspects of intellectual property?

What is a major argument by the United States against the GATT Treaty?

If a foreign government hires an American consulting firm to help the country's textile industry improve production operations,the contract is commercial,and if the foreign government refuses to pay,the consulting firm may sue the government in American courts.

A binding process of resolving legal disputes by submitting them to a neutral third party is called

The law governing the acquisition of territory and the settlement of disputes among nations​ is public international law.

Which of the following organizations was responsible for putting forth the UN Convention for the International Sale of Goods (CISG) and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) ?

Which of the following is the UN's lawmaking body?

Extraterritoriality can be defined as

Private international law sets out the basic rules of human rights and laws defining the treatment of refugees,prisoners of war,and international criminals.

The Foreign Sovereign Immunities Act (FSIA)provides that American courts generally cannot hear suits against foreign governments.Describe the three possible exceptions to this rule.

Notren,Inc. ,a U.S.company,and SWT,a Singapore company,entered into a contract under which SWT is to ship party supplies to Notren.One of the terms of the contract states,"Any disputes that arise under this contract will be resolved in the courts of Singapore." This contract term is a

Which of the following​ is not a lawmaking body but is so influential that many of its voluntary rules,such as the Incoterms,are accepted as the global standard in international business?

Incoterms rules are

A treaty is said to be _____ when those who have drafted it agree that it is in final form.

When a dispute arises between different countries,the preferred method of resolution is to litigate the case through the foreign court system because it is less expensive and ​more private to do so.

The law governing the acquisition of territory and the settlement of disputes among nations is public international law.

Which of the following is not a lawmaking body but is so influential that many of its voluntary rules,such as the Incoterms,are accepted as the global standard in international business?

When a dispute arises between different countries,the preferred method of resolution is to litigate the case through the foreign court system because it is less expensive and more private to do so.