ACC 543 Wk 6 – Practice: International and Comparable Law

_________is a multilateral free trade agreement between the U.S., Mexico, and Canada.

Multiple Choice

• NAFTA
• NATO
• WHO
• CAFTA

Systems that are considered adversarial in nature because opposing parties present their arguments before a neutral fact finder, who determines which side met its burden of proof, are known as _______ systems.

Multiple Choice

• civil law
• common law
• socialist
• public law

Which country is not a party to the Central American Free Trade Agreement?

Multiple Choice

• Costa Rica
• United States
• Honduras
• Canada

The commercial sale of goods is best defined by which of the following descriptions.

Multiple Choice

• Foreign free trade between member states in which value exchanged between merchants of the member states.
• The international sale of goods between countries in return for consideration.
• The exchange of tangible personal property between merchants in return for consideration.
• The exchange of personal property between businesses in different countries in return for consideration.

For a practice to be deemed a custom and a source of international law, it should

Multiple Choice

• hold religious eminence among people.
• be merely advisory and not legally binding.
• have originated within the last decade.
• be general and consistent among states.

The __________ is an international agreement governing the arbitration of private international disputes. This agreement applies when an award is made and one party seeks enforcement in the territories of the contracting states, and requires that each state recognize written arbitration agreements and arbitral awards as enforceable in its national courts.

Multiple Choice

• New York Convention
• New York Accord
• New York Summit
• Chicago Convention

The arrangement between the United States, Canada, and Mexico to reduce and gradually eliminate tariffs and other trade barriers is an example of a(n) _____.

Multiple Choice

• multilateral free trade agreement.
• nonactionable subsidy.
• nontariff barrier.
• pan-American union.

Which of the following is an example of an actionable subsidy?

Multiple Choice

• Expenditures incurred on research and development.
• Monetary aid provided to underdeveloped regions within a state.
• Subsidies paid to encourage firms to use domestic rather than imported inputs.
• Subsidies paid to firms to foster compliance with environmental standards.

A multimillion dollar U.S. project to construct a suspension bridge is in progress. Landmark, Co. in Sweden shares both profits and responsibilities for the project with Liberty Bridges, Inc., a firm based in the United States. This scenario is an example of a

Multiple Choice

• franchise agreement.
• horizontal acquisition.
• licensing agreement.
• joint venture.

The Southern Countries Group is comprised of ten countries. Together, these countries have decided to charge a common external tariff on all aluminum that comes from countries that are not a part of the Southern Countries Group. The Southern Countries Group is an example of a _____.

Multiple Choice

• customs union
• multilateral restrictive trade organization
• regional tariff organization
• multilateral subsidy union

Basic types of regional trade agreements include

Multiple Choice

• multilateral free trade agreements and customs unions.
• custom unions and bilateral free trade agreements.
• multilateral and bilateral free trade agreements.
• multilateral free trade agreements, bilateral free trade agreement, and custom unions.

Member states that have ratified the _____ have agreed to recognize arbitration awards as enforceable in its national courts.

Multiple Choice

• New York Convention
• Conventional on the International Sale of Goods
• International Arbitration Convention
• International Dispute Protocol

Due to certain political conflicts, the country Miapeke decided to place a ban on all steel imports from the country Lebatar. Miapeke has instituted a(n) _____ on Lebatar’s steel imports.

Multiple Choice

• embargo
• compound tariff
• tariff
• unquantitative restriction

U.S. company Candlon, Inc. is seeking to establish its business in a foreign country. The foreign country’s current government is not inclined to let Candlon open a factory there. A candidate for prime minister of the country, however, is friendly toward U.S. businesses and is likely to allow Candlon to establish its business there. Candlon makes a large contribution to this candidate’s campaign. Candlon has likely violated which of the following laws?

Multiple Choice

• The Foreign Corrupt Practices Act (FCPA)
• The New York Convention (NYC)
• The Convention on the International Sale of Goods (CISG)
• The General Agreement on Tariffs and Trade (GATT)

_________ law governs the conduct of states and international organizations and their relationships with one another and natural and juridical persons, while __________ law is the study of legal systems of different nation states

Multiple Choice

• Uniform; jurisdictional
• Jurisdictional; uniform
• Comparative; international
• International; comparative

In _____ systems, the legislative branch has the ultimate authority.

Multiple Choice

• socialist law
• common law
• public law
• civil law

What is the mission of the World Trade Organization (WTO)?

Multiple Choice

• To serve as an international “war-crimes” tribunal.
• To facilitate international cooperation in opening markets, and to provide a forum for future trade negotiations and the settlement of international trade disputes.
• To provide economic development funds to lesser-developed countries (LDCs).
• All of these are .

__________ is the practice wherein an exporter sells products in a foreign state for less than the price charged for the same or comparable goods in the exporter’s home market.

Multiple Choice

• Free trade
• Geo-capitalism
• Fair trade
• Dumping

If a United States company has a dispute with a company from Norway and conciliation does not resolve the dispute, the two businesses may pursue an adversarial option to resolve the dispute. Which of the following methods may the companies choose?

Multiple Choice

• Mediation
• Monitored settlement agreements
• Arbitration.
• Mandatory conciliation

A Canadian company has a business arrangement with a U.S. toy company, Imagination. The arrangement permits the Canadian company to sell Imagination’s products directly to consumers under the same brand name in Canada. At the end of the first year, the Canadian company pays Imagination 20 percent of its net sales. Which of the following methods of entering a foreign market has been best illustrated in this scenario?

Multiple Choice

• Franchise agreement.
• Joint venture.
• Exporting.
• Turnkey contract.