Question 1

A textile manufacturing company is trying to solve a dispute with one of its raw material suppliers over a breach of contract. After the initial attempts to solve the dispute in a friendly informal manner failed, the companies have approached an international commission to appoint an informed party to act as a referee and make a judgment that both parties will honor. Which of the following dispute resolution methods is being used by the companies in the above scenario?

Accepted Answer

A)  Litigation 
B)  Arbitration 
C)  Mediation 
D)  Coercion 
E)  Judicial intervention

Question 2

_____ buy and register descriptive nouns, geographic names, names of ethnic groups and pharmaceutical substances, and other similar descriptors and hold them until they can be sold at an inflated price.

Accepted Answer

A)  Patent trolls 
B)  Server farms 
C)  Domain name registries 
D)  Cybersquatters 
E)  Universal resource locators

Question 3

Which of the following acts developed by the European Union erases legal and trade differences that have existed for decades between the member nations?

Accepted Answer

A)  European Sanctity Act 
B)  European Indemnification Act 
C)  European Unification Act 
D)  Single European Market Act 
E)  Foreign Corrupt Practices Act

Question 4

Laws governing _____ offer the most striking differences between common-law and code-law systems.

Accepted Answer

A)  international trade 
B)  social welfare 
C)  homicide 
D)  intellectual property 
E)  domestic industry

Question 5

The Informed Consumer Standard is used in the consumer protection courts in Canada and it places the onus of making the right decisions on the buyer who is expected to have substantial knowledge of the industry and its products.

Accepted Answer

A) True 
 B)False

Question 6

Ralph Richards has been attempting to solve a problem that his company has with a contract default by the Dutch government. He has tried conciliation but the two parties could never find any common ground on which they could begin a fruitful negotiation for settlement. Which of the following is likely to be the course of action that both the parties will try next?

Accepted Answer

A)  Mediation 
B)  Informal settlement 
C)  Arbitration 
D)  Litigation 
E)  Coercion

Question 7

Code law prohibits the receipt and payment of interest on loans.

Accepted Answer

A) True 
 B)False

Question 8

Antitrust laws were not enforced in the United States for the better part of the twentieth century.

Accepted Answer

A) True 
 B)False

Question 9

Disputes relating to commercial transactions must be settled in courts and cannot be settled informally.

Accepted Answer

A) True 
 B)False

Question 10

Under _____, the legal system is generally divided into three separate codes: commercial, civil, and criminal.

Accepted Answer

A)  constitutional law 
B)  code law 
C)  family law 
D)  religious law 
E)  traditional law

Question 11

When all else fails in an international commercial dispute, the final step is:

Accepted Answer

A)  conciliation. 
B)  to encourage one's government to force the other party to comply. 
C)  to restart the arbitration process. 
D)  litigation. 
E)  coercion.

Question 12

Islamic law is also known as the _____.

Accepted Answer

A)  Ulema 
B)  Umrah 
C)  Zakkath 
D)  Shari'ah 
E)  Barakah

Question 13

U.S. firms, their foreign subsidiaries, or foreign firms that are licensees of U.S. technology cannot sell a product to a country in which the sale is considered by the U.S. government to affect:

Accepted Answer

A)  the competitive balance of world trade. 
B)  the competitive balance of free competition inside the U.S. 
C)  the relationship of the US with the world community. 
D)  the overall balance of payments of the United States. 
E)  the national security of the United States.

Question 14

List the major international conventions designed for mutual recognition and protection of intellectual property rights.

Accepted Answer

The answer of List the major international conventions designed for...

Question 15

Compare the American and Japanese approaches during the four stages of business negotiations.

Accepted Answer

The answer of Compare the American and Japanese approaches during...

Question 16

Code law is also known as _____.

Accepted Answer

A)  business law. 
B)  common law. 
C)  religious law. 
D)  civil law. 
E)  universal law.

Question 17

Which of the following are the licenses required for products exported from the United States?

Accepted Answer

A)  International or bilateral license 
B)  General or a validated license 
C)  Single license 
D)  Exporter or third-party license 
E)  Shipment license or agent license

Question 18

Under code law, the legal system is generally divided into three separate codes: commercial, civil, and criminal.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following conventions is responsible for the promotion of the protection of intellectual property rights among all the member countries of the UN?

Accepted Answer

A)  The Basel Convention 
B)  The Madrid Arrangement 
C)  The Tokyo Agreement 
D)  The Eurasian Convention 
E)  The World Intellectual Property Organization

Question 20

Which of the following is usually placed in the arbitration clause that is becoming standard in many international contracts?

Accepted Answer

A)  The preferred court or legal body of arbitration. 
B)  The place of arbitration and the language used in the arbitration process. 
C)  The contract stating that the results of the arbitration process are not binding on both parties. 
D)  The judgment of the legal action initiated in the litigation stage. 
E)  The copy of the lawsuit filed by the plaintiff.

Exam 7: The International Legal Environment: Playing by the Rules

_____ buy and register descriptive nouns, geographic names, names of ethnic groups and pharmaceutical substances, and other similar descriptors and hold them until they can be sold at an inflated price.

Which of the following acts developed by the European Union erases legal and trade differences that have existed for decades between the member nations?

Laws governing _____ offer the most striking differences between common-law and code-law systems.

The Informed Consumer Standard is used in the consumer protection courts in Canada and it places the onus of making the right decisions on the buyer who is expected to have substantial knowledge of the industry and its products.

Code law prohibits the receipt and payment of interest on loans.

Antitrust laws were not enforced in the United States for the better part of the twentieth century.

Disputes relating to commercial transactions must be settled in courts and cannot be settled informally.

Under _____, the legal system is generally divided into three separate codes: commercial, civil, and criminal.

When all else fails in an international commercial dispute, the final step is:

Islamic law is also known as the _____.

U.S. firms, their foreign subsidiaries, or foreign firms that are licensees of U.S. technology cannot sell a product to a country in which the sale is considered by the U.S. government to affect:

List the major international conventions designed for mutual recognition and protection of intellectual property rights.

Compare the American and Japanese approaches during the four stages of business negotiations.

Code law is also known as _____.

Which of the following are the licenses required for products exported from the United States?

Under code law, the legal system is generally divided into three separate codes: commercial, civil, and criminal.

Which of the following conventions is responsible for the promotion of the protection of intellectual property rights among all the member countries of the UN?

Which of the following is usually placed in the arbitration clause that is becoming standard in many international contracts?