Question 1

Without permission,a Russian firm names itself McDonald's and begins selling hamburgers and French fries in Russia.This is​

Accepted Answer

A)   ​piracy. 
B)   ​a licensing agreement. 
C)   ​indirect exporting. 
D)   ​franchising.E) C) and D)
F) A) and D)

Question 2

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) None of the above
F) B) and C)

Question 3

Wytex,Inc.,a U.S.firm,and Findora Commercial,a Nigerian firm,are parties to a contract that specifies that the official language of the contract is English.This is​

Accepted Answer

A)   ​a choice-of-forum clause. 
B)   ​a choice-of-language clause. 
C)   ​a choice-of-law clause. 
D)   ​an arbitration clause.E) A) and C)
F) A) and B)

Question 4

Business Universal Corporation,a U.S.firm,establishes a wholly owned subsidiary firm in Brazil.In this situation,Business Universal retains complete control and authority over​

Accepted Answer

A)   ​all of the operation. 
B)   ​only the part of the operation in the United States. 
C)   ​none of the operation. 
D)   ​about half of the operation.E) B) and D)
F) B) and C)

Question 5

Ecuador seizes the assets of Resourced Oil,Inc.,a U.S.firm.Resourced's recovery from Ecuador in a U.S.court may be prevented by​

Accepted Answer

A)   ​the act of state doctrine. 
B)   ​the doctrine of sovereign immunity. 
C)   ​the North American Free Trade Agreement. 
D)   ​the principle of comity.E) A) and C)
F) B) and D)

Question 6

U.S.laws that prohibit discrimination in employment apply to U.S.employees working for U.S.firms located abroad.

Accepted Answer

A) True 
 B)False

Question 7

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Accepted Answer

A) True 
 B)False

Question 8

Munchies Bistro Corporation,a U.S.firm,signs a contract with Manger au Brasserie,S.A.,a French firm,to give Manger the right to use Munchies's trademark in restaurants in France.This is​

Accepted Answer

A)   ​a distribution agreement. 
B)   ​a joint venture. 
C)   ​direct exporting. 
D)   ​licensing.E) C) and D)
F) B) and C)

Question 9

A foreign state is immune from the jurisdiction of U.S.courts as long as the state is involved in commercial activity in the United States.

Accepted Answer

A) True 
 B)False

Question 10

Telfonix Corporation,a U.S.firm,and Adex,Inc.,a British firm,are parties to a contract with a choice-of-forum clause.The forum specified in the clause must be within the geographic boundaries of​

Accepted Answer

A)   ​the United States. 
B)   ​Britain. 
C)   ​neither the United States nor Britain. 
D)   ​either the United States or Britain.E) B) and C)
F) A) and D)

Question 11

In a joint venture,the parent company in the United States retains complete ownership and authority over all phases of the operation.

Accepted Answer

A) True 
 B)False

Question 12

International contracts rarely include arbitration clauses.

Accepted Answer

A) True 
 B)False

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) B) and C)
F) A) and D)

Question 14

Global Industries Corporation owns assets in Kazakhstan,a country in Asia.The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors.What can Global Industries do? Can it at least obtain payment for the assets?​

Accepted Answer

If a government decides to seize propert...

Question 15

The government of Japan sets a limit on the amount of rice that can be imported from the United States.This is​

Accepted Answer

A)   ​a dumping duty. 
B)   ​an antidumping duty. 
C)   ​a quota. 
D)   ​a tariff.E) All of the above
F) B) and C)

Question 16

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

Accepted Answer

A)   ​an antidumping duty. 
B)   ​a dumping duty. 
C)   ​a quota. 
D)   ​a tariff.E) C) and D)
F) B) and C)

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Under the Foreign Sovereign Immunities Act,a foreign state can be a political subdivision of a foreign state.

Accepted Answer

A) True 
 B)False

Question 19

Firms overseas have almost total legal protection against government acts in the countries in which they operate,under the act of state doctrine.

Accepted Answer

A) True 
 B)False

Question 20

Deep Dark Chocolate,Inc.,a U.S.firm,enters into an agreement with Columbiana Cacao,S.A.,a South American firm,to fix the price of imported chocolate in the U.S.market.If the agreement is a per se violation of U.S.antitrust laws,a U.S.court could exercise jurisdiction over​

Accepted Answer

A)   ​Deep and Columbiana. 
B)   ​Deep only. 
C)   ​Columbiana only. 
D)   ​neither Deep nor Columbiana.E) A) and D)
F) C) and D)

Exam 42: International Law

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

Correct AnswerverifiedShow Answer

Ecuador seizes the assets of Resourced Oil,Inc.,a U.S.firm.Resourced's recovery from Ecuador in a U.S.court may be prevented by​

Correct AnswerverifiedShow Answer

In a joint venture,the parent company in the United States retains complete ownership and authority over all phases of the operation.

Correct AnswerverifiedShow Answer

Telfonix Corporation,a U.S.firm,and Adex,Inc.,a British firm,are parties to a contract with a choice-of-forum clause.The forum specified in the clause must be within the geographic boundaries of​

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Without permission,a Russian firm names itself McDonald's and begins selling hamburgers and French fries in Russia.This is​

Correct AnswerverifiedShow Answer

The government of Japan sets a limit on the amount of rice that can be imported from the United States.This is​

Correct AnswerverifiedShow Answer

Deep Dark Chocolate,Inc.,a U.S.firm,enters into an agreement with Columbiana Cacao,S.A.,a South American firm,to fix the price of imported chocolate in the U.S.market.If the agreement is a per se violation of U.S.antitrust laws,a U.S.court could exercise jurisdiction over​

Correct AnswerverifiedShow Answer

International contracts rarely include arbitration clauses.

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 AnswerverifiedShow Answer

U.S.laws that prohibit discrimination in employment apply to U.S.employees working for U.S.firms located abroad.

Correct AnswerverifiedShow Answer

Under the Foreign Sovereign Immunities Act,a foreign state can be a political subdivision of a foreign state.

Correct AnswerverifiedShow Answer

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Correct AnswerverifiedShow Answer

A foreign state is immune from the jurisdiction of U.S.courts as long as the state is involved in commercial activity in the United States.

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

Wytex,Inc.,a U.S.firm,and Findora Commercial,a Nigerian firm,are parties to a contract that specifies that the official language of the contract is English.This is​

Correct AnswerverifiedShow Answer

Firms overseas have almost total legal protection against government acts in the countries in which they operate,under the act of state doctrine.

Correct AnswerverifiedShow Answer

Business Universal Corporation,a U.S.firm,establishes a wholly owned subsidiary firm in Brazil.In this situation,Business Universal retains complete control and authority over​

Correct AnswerverifiedShow Answer

Munchies Bistro Corporation,a U.S.firm,signs a contract with Manger au Brasserie,S.A.,a French firm,to give Manger the right to use Munchies's trademark in restaurants in France.This is​

Correct AnswerverifiedShow Answer

Global Industries Corporation owns assets in Kazakhstan,a country in Asia.The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors.What can Global Industries do? Can it at least obtain payment for the assets?​

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

Correct Answer
verified

Ecuador seizes the assets of Resourced Oil,Inc.,a U.S.firm.Resourced's recovery from Ecuador in a U.S.court may be prevented by

Correct Answer
verified

Correct Answer
verified

Telfonix Corporation,a U.S.firm,and Adex,Inc.,a British firm,are parties to a contract with a choice-of-forum clause.The forum specified in the clause must be within the geographic boundaries of

Correct Answer
verified

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

Correct Answer
verified

Without permission,a Russian firm names itself McDonald's and begins selling hamburgers and French fries in Russia.This is

Correct Answer
verified

The government of Japan sets a limit on the amount of rice that can be imported from the United States.This is

Correct Answer
verified

Deep Dark Chocolate,Inc.,a U.S.firm,enters into an agreement with Columbiana Cacao,S.A.,a South American firm,to fix the price of imported chocolate in the U.S.market.If the agreement is a per se violation of U.S.antitrust laws,a U.S.court could exercise jurisdiction over

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Wytex,Inc.,a U.S.firm,and Findora Commercial,a Nigerian firm,are parties to a contract that specifies that the official language of the contract is English.This is

Correct Answer
verified

Correct Answer
verified

Business Universal Corporation,a U.S.firm,establishes a wholly owned subsidiary firm in Brazil.In this situation,Business Universal retains complete control and authority over

Correct Answer
verified

Munchies Bistro Corporation,a U.S.firm,signs a contract with Manger au Brasserie,S.A.,a French firm,to give Manger the right to use Munchies's trademark in restaurants in France.This is

Correct Answer
verified

Global Industries Corporation owns assets in Kazakhstan,a country in Asia.The government of Kazakhstan wants to nationalize all assets owned by foreign firms and investors.What can Global Industries do? Can it at least obtain payment for the assets?

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