Mann_BLRB 9_TB_Ch47

Business Law and the Regulation of Business

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 47—International Business Law TRUE/FALSE 1. The U.S. Constitution provides that all valid treaties have the force of a federal statute. ANS: T MSC: AACSB Analytic 2. NAFTA establishes a free trade area among the United States and Mexico but not Canada. ANS: F MSC: AACSB Analytic 3. Under U.S. law, the CISG supersedes the UCC whenever either could apply. ANS: T MSC: AACSB Analytic 4. The act-of-state doctrine provides that to maintain international relations and trade, a host country must refrain from imposing its laws on a foreign sovereign nation present within its borders. ANS: F MSC: AACSB Analytic 5. Lawsuits based on the commercial activities of a foreign state conducted in the U.S. are subject to the jurisdiction of state or federal courts in the U.S. ANS: T MSC: AACSB Analytic 6. Like domestic law, international law can be easily enforced, because international courts have com- pulsory jurisdiction. ANS: F MSC: AACSB Analytic 7. A specialized U.N. agency or a U.N. organ may seek an advisory opinion from the International Court of Justice, but an individual or a sovereign state may not. ANS: T MSC: AACSB Analytic 8. Businesses wishing to safeguard their technology while doing business in the international sector would not want to consider the use of wholly owned subsidiaries. ANS: F MSC: AACSB Analytic 9. A treaty is an agreement between or among independent nations. ANS: T MSC: AACSB Analytic 10. Confiscation of property by a foreign government for nonpublic purposes without adequate payment violates generally observed principles of international law. ANS: T MSC: AACSB Analytic
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
11. Expropriation of property by a foreign government for a public purpose with the payment of just com- pensation, but without the consent of the owner, violates generally observed principles of international law. ANS: F MSC: AACSB Analytic 12. Sovereign immunity is absolute immunity from the courts of a host country. ANS: T MSC: AACSB Analytic 13. A foreign government that carries on a commercial activity may assert its sovereign immunity and breach contracts it enters into without consequence. ANS: F MSC: AACSB Analytic 14. The World Bank established the MIGA to eliminate the practice of dumping. ANS: F MSC: AACSB Analytic 15. An expropriation, or nationalization, occurs when a government seizes foreign-owned property or as- sets for a public purpose and pays the owner just compensation for what is taken. ANS: T MSC: AACSB Analytic 16. The World Bank established the Multilateral Investment Guarantee Agency to encourage increased in- vestment in developing nations. ANS: T MSC: AACSB Analytic 17. Assume the U.S. has granted "most-favored nation" status to Holland. This means that the tariff on Dutch imported tobacco must be at least as low as that charged on tobacco from any other nation. ANS: T
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 02/06/2012.

Page1 / 14

Mann_BLRB 9_TB_Ch47 - Chapter 47-International Business Law...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online