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Exam 11: International and Space Law

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Question 21

Multiple Choice

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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, the corporate explorer

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.

E) C) and D)
F) B) and C)

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Question 22

Multiple Choice

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Trade barriers are

A) restrictions on imports.
B) restrictions on exports.
C) the lack of incentives and subsidies to stimulate imports.
D) the lack of incentives and subsidies to stimulate exports.

E) C) and D)
F) All of the above

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Question 23

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Sovereign nations agree to be governed by International law to facilitate trade, commerce, and civilized discourse.

Under the Outer Space Treaty, a moon, a planet, an asteroid, or any other celestial body is subject to the appropriation of

Because exchanges of goods on a global level are routine, students of business law do not need to be familiar with laws pertaining to international business transactions.

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

Agri Products Inc., a U.S. firm, signs a contract with Bao Ltd., a Chinese firm, to distribute Agri's products in China. The most likely reason for this deal is

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

Nations impose laws to restrict or facilitate international business because business activities can affect national interests.

A U.S. employer operating in a foreign country must abide by U.S. discrimination laws even if doing so violates the laws of that foreign country.

Sufficient business develops in France for Graphic Comics Inc., a U.S. firm, to appoint Comics Graphique Ltd., a French firm, to act as the U.S. firm's marketing representative in France. This is

Burger Bistros, a U.S. firm, makes a deal with a Canadian firm, Donny's Diners, that allows Donny's to use Burger's trade name in Canada in return for a fee. This is

The parties to an international contract can indicate what court, jurisdiction, or tribunal will decide any disputes arising under the contract.

A body of law-formed as a result of international customs, treaties, and organizations-that governs relations among or between nations is

Countries restrict exports to protect national security, further foreign policy objectives, and conserve resources.

A U.S. court will likely uphold a contract created in the United Kingdom because the U.K.'s laws are generally compatible with those of the United States.

Market Maven Inc., a U.S. firm, can license a foreign manufacturing company to use its

A foreign state is not immune from the jurisdiction of a U.S. court when it has engaged in commercial activity within the United States.

Global Project, a U.S. firm, owns property in Hong Kong. The government of China seizes the property. The firm claims that this is confiscation. The government claims that it is expropriation. The difference concerns

The management of Sport Shoes Corporation, a U.S. firm, wants to expand into foreign investment and employment markets. They are considering either opening their own production facility in a foreign country or entering into a licensing agreement with a foreign firm. What are the advantages and disadvantages of each of these courses of action?