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Exam 25: International Law in a Global Economy

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Question 1

True/False

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

A) True
B) False

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True

Question 2

Multiple Choice

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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​

A) confiscation.
B) defalcation.
C) dumping.
D) expropriation.

E) B) and D)
F) None of the above

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Question 3

Multiple Choice

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The United States taxes each barrel of imported oil at a flat rate. This is​

Optima Medico Corporation, a U.S. firm, signs a contract with Pharma Beneficial, Ltd., a Canadian firm, to give Pharma the right to sell Optima's products in Canada. This is​

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?​

Dumping is the sale of imported goods at "less than fair value."​

To obtain a contract with the Chinese government, Road & Bridge Engineering Corporation, a U.S. firm, gives a Chinese official a sport utility vehicle. This may violate​

Call Center Corporation, a U.S. firm, owns property in India. The government of India seizes the property for a proper public purpose and pays Call Center just compensation. This is​

A treaty is a contract or other agreement between two or more nations that must be ratified by the United Nations to take effect.

The primary goal of the North American Free Trade Agreement is to eliminate tariffs among the United States, Canada, and Mexico.

Significant business develops in Spain for Graphic Comix, Inc., a U.S. firm. Graphic Comix appoints Comicas Graphico, Ltd., a Spanish firm, to act as Graphic Comix's marketing representative in Spain. This is​

Northwest Resources, Inc., and Midwest Commodities Corporation are exporting firms that join together to export a line of products. Northwest Resources and Midwest Commodities apply to Commerce Bank for a loan to fund their effort. Under federal law, Commerce and other U.S. banks are​

Bango! Business, Inc., a U.S. firm, may have committed, in Chile, acts that would constitute, in the United States, violations of U.S. anti-trust laws. These laws apply​

Franchising is a form of licensing.

Confiscation occurs when a government seizes private property for an illegal purpose or without just compensation.

When a U.S. firm wishes to increase its involvement in an international market, it may do so by establishing an agency relationship with a foreign firm.

The U.S. corporation Burger Heaven makes a deal with an Icelandic firm that allows the Icelandic firm to use Burger Heaven's trade name in Iceland in return for a fee. This is​

World Metals, Inc., a U.S. firm, wants to file a suit in the United States against a Venezuela government agency, alleging a violation of certain international laws. Under the Foreign Sovereign Immunities Act, the agency is​

Few countries guarantee compensation to foreign investors if their property is taken.

​Hong Ltd., a Chinese firm, imports its goods into the United States and offers those goods for sale at "less than fair value." This is