Question 1

Vieux Carré 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

Accepted Answer

A)  comparable goods in a select "basket" of other countries.
B)  Vieux Carré's goods in France.
C)  Vieux Carré's goods in the United States.
D)  Vieux Carré's goods on the world market.E) None of the above
F) A) and B)

Question 2

Antidumping duties are the responsibilities of international environmental polluters.

Accepted Answer

A) True 
 B)False

Question 3

A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

Accepted Answer

A) True 
 B)False

Question 4

The management of Sport Shoes Corporation,a U.S.firm,wants to expand into foreign investment and employment markets.They are considering ei?ther 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?

Accepted Answer

One of the advantages of opening a wholl...

Question 5

Expropriation occurs when a government seizes private property for an illegal purpose and awards just compensation.

Accepted Answer

A) True 
 B)False

Question 6

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish 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.E) A) and B)
F) C) and D) D

Question 7

Capital Diversified Corporation (CDC)owns assets in Dagistan,a new country in Asia.The government of Dagistan wants to nationalize all assets owned by foreign firms and investors.What can CDC do? Can it at least obtain payment for the assets?

Accepted Answer

If a government decides to seize propert...

Question 8

Quotas are limits on the amounts of goods that can be imported.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  a distribution agreement.
B)  a joint venture.
C)  direct exporting.
D)  licensing.E) A) and D)
F) None of the above C

Question 12

China and India form an agreement to govern their commercial exchanges with one another.This is

Accepted Answer

A)  a bilateral agreement.
B)  a lateral agreement.
C)  a multilateral agreement.
D)  a unilateral agreement.E) C) and D)
F) A) and D)

Question 13

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

Accepted Answer

A)  confiscation.
B)  defalcation.
C)  dumping.
D)  expropriation.E) A) and D)
F) A) and B)

Question 14

Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.

Accepted Answer

A) True 
 B)False  True

Question 15

The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.

Accepted Answer

A) True 
 B)False

Question 16

The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders.The power to enforce international law within the borders of all nations rests with

Accepted Answer

A)  no court or international organization.
B)  the European Union.
C)  the International Court of Justice.
D)  the United Nations General Assembly.E) A) and B)
F) All of the above

Question 17

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

Accepted Answer

A)  all of the operation,and its profits and liabilities.
B)  all of the operation,and none of its profits and liabilities.
C)  none of the operation,and none of its profits and liabilities.
D)  part of the operation,and shares its profits and liabilities.E) A) and B)
F) All of the above

Question 18

The law of Chile,Germany,or Japan is

Accepted Answer

A)  global,transnational law.
B)  national law.
C)  private international law.
D)  public international law.E) None of the above
F) B) and C)

Question 19

The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.

Accepted Answer

A) True 
 B)False

Question 20

Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for

Accepted Answer

A)  a violation of a treaty of the United States only.
B)  a violation of a treaty of the United States or of the law of nations.
C)  a violation of the law of nations only.
D)  no purpose.E) B) and D)
F) A) and B)

Exam 31: International Law in a Global Economy

Vieux Carré 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

Correct Answer
verified

Antidumping duties are the responsibilities of international environmental polluters.

Correct Answer
verified

A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

Correct Answer
verified

Correct Answer
verified
One of the advantages of opening a wholl...
View Answer

Expropriation occurs when a government seizes private property for an illegal purpose and awards just compensation.

Correct Answer
verified

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

Correct Answer
verified
D

Capital Diversified Corporation (CDC)owns assets in Dagistan,a new country in Asia.The government of Dagistan wants to nationalize all assets owned by foreign firms and investors.What can CDC do? Can it at least obtain payment for the assets?

Correct Answer
verified
If a government decides to seize propert...
View Answer

Quotas are limits on the amounts of goods that can be imported.

Correct Answer
verified

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

Correct Answer
verified

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

Correct Answer
verified

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

Correct Answer
verified
C

China and India form an agreement to govern their commercial exchanges with one another.This is

Correct Answer
verified

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

Correct Answer
verified

Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.

Correct Answer
verified
True

The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.

Correct Answer
verified

The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders.The power to enforce international law within the borders of all nations rests with

Correct Answer
verified

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

Correct Answer
verified

The law of Chile,Germany,or Japan is

Correct Answer
verified

The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.

Correct Answer
verified

Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for

Correct Answer
verified

Exam 31: International Law in a Global Economy

Vieux Carré 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

Correct AnswerverifiedShow Answer

Antidumping duties are the responsibilities of international environmental polluters.

Correct AnswerverifiedShow Answer

A forum-selection clause indicates the place for the resolution of a dispute arising under a contract.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedOne of the advantages of opening a wholl...View AnswerShow Answer

Expropriation occurs when a government seizes private property for an illegal purpose and awards just compensation.

Correct AnswerverifiedShow Answer

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

Correct AnswerverifiedD

Capital Diversified Corporation (CDC)owns assets in Dagistan,a new country in Asia.The government of Dagistan wants to nationalize all assets owned by foreign firms and investors.What can CDC do? Can it at least obtain payment for the assets?

Correct AnswerverifiedIf a government decides to seize propert...View AnswerShow Answer

Quotas are limits on the amounts of goods that can be imported.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedC

China and India form an agreement to govern their commercial exchanges with one another.This is

Correct AnswerverifiedShow Answer

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is

Correct AnswerverifiedShow Answer

Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.

Correct AnswerverifiedTrue

The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.

Correct AnswerverifiedShow Answer

The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders.The power to enforce international law within the borders of all nations rests with

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The law of Chile,Germany,or Japan is

Correct AnswerverifiedShow Answer

The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.

Correct AnswerverifiedShow Answer

Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
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Correct Answer
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One of the advantages of opening a wholl...
View Answer

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D

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If a government decides to seize propert...
View Answer

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Correct Answer
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Correct Answer
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C

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True

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