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CHAPTER 1 INTRODUCTION TO INTERNATIONAL BUSINESS CASES IN THIS CHAPTER Tarbert Trading Ltd. V. Cometals, Inc. Russian Entertainment Wholesale, Inc. v. Close-Up International, Inc. Dayan v. McDonald’s Corp. In re Union Carbide Corporation Gas Plant Disaster at Bhopal Transatlantic Financing […]

Chapter 1: Introduction to International Business gifts or stories about you and your family or your business. Most foreigners like to take their time 4. Answer: Pro Golf was entitled to terminate its agency relationship with FFA, but it was […]

CHAPTER 10 LAWS GOVERNING ACCESS TO FOREIGN MARKETS CASES IN THIS CHAPTER Thailand—Restrictions on Importation of Cigarettes United States – Measures Affecting the Production and Sale of Clove Cigarettes EC Measures Concerning Meat and Meat Products (Hormones) United States–Sections 301-310 […]

CHAPTER 11 REGULATING IMPORT COMPETITION AND UNFAIR TRADE CASES IN THIS CHAPTER Argentina—Safeguard Measures on Imports of Footwear Heavyweight Motorcycles, & Engines & Power-Train Subassemblies Pesquera Mares Australes Ltda. v. United States (Chilean Salmon) Bulk Aspirin from the People’s Republic […]

CHAPTER 12 IMPORTS, CUSTOMS, AND TARIFF LAW CASES IN THIS CHAPTER Carl Zeiss, Inc. v. United States Better Home Plastics Corp. v. United States Ferrostaal Metals Corp. v. United States Nissan Motor Mfg. Corp., USA v. United States. United States […]

CHAPTER 13 THE REGULATION OF EXPORTS CASES IN THIS CHAPTER United States v. Mandel United States v. Chmilewski Briggs & Stratton Corp. v. Baldridge United States v. Zhi Yong Guo Freedom to Travel Campaign v. Newcomb TEACHING SUMMARY Just as […]

CHAPTER 14 NORTH AMERICAN FREE TRADE LAW CASES IN THIS CHAPTER In the Matter of Cross Border Trucking Metalclad Corporation v. The United Mexican States Samsonite Corp. v. United States TEACHING SUMMARY NAFTA is a tri-lateral agreement among the United […]

CHAPTER 15 THE EUROPEAN UNION AND OTHER REGIONAL TRADE AREAS CASES IN THIS CHAPTER Commission of the European Communities v. Italian Republic (Public Monument Case) Commission of the European Communities v. Portuguese Republic Commission of the European Communities v. Italian […]

CHAPTER 16 REGULATION OF THE INTERNATIONAL MARKETPLACE CASES IN THIS CHAPTER Electra-Amambay S.R.L. v. Compañía Antártica Paulista Ind. Brasileira de Bebidas E Conexos Carlill v. Carbolic Smoke Ball Co. Quebec (Procureur general) v. Enterprises W.F.H. Itée Foreign Corrupt Practices Act […]

CHAPTER 17 PROTECTION AND LICENSING OF INTELLECTUAL PROPERTY CASES IN THIS CHAPTER Apple, Inc. v. Samsung Electronics Co., Ltd. Diamond v. Chakrabarty Mobile Communications Services, Inc. v. WebReg, RN TVBO Production Limited v. Australia Sky Net Pty Limited Comite Interprofessional […]

CHAPTER 18 TAKINGS AND NATIONAL CONTROLS ON FOREIGN DIRECT INVESTMENT CASES IN THIS CHAPTER INA Corp. v. Islamic Republic of Iran National Thermal Power Corp. v. The Singer Co. ADC Affiliate et al. v. The Republic of Hungary Saudi Arabia […]

Chapter 18: Host-Country Regulation: Corporate Law, Taxation, and Currency Risk ANSWERS TO QUESTIONS AND CASE PROBLEMS 1. Answer: Whether Keefe is making a majority investment would depend on the precise language and interpretation of the Mexican law then in force. […]

CHAPTER 19 LABOR AND EMPLOYMENT DISCRIMINATION LAW CASES IN THIS CHAPTER Kochi Hoso (Broadcasting Co.) Equal Employment Opportunity Commission v. Arabian American Oil Co. Reyes-Gaona v. North Carolina Growers Ass’n, Inc. Mahoney v. RFE/RL, Inc. European Commission Proceedings against Czech […]

CHAPTER 2 INTERNATIONAL LAW AND THE WORLD’S LEGAL SYSTEMS CASES IN THIS CHAPTER Ventress v. Japan Airlines The Paquette Habana Sosa v. Alvarez-Machain United States v. Campbell Liechtenstein v. Guatemala (Nottebohm Case) Khaki v. Hashim TEACHING SUMMARY This chapter addresses […]

CHAPTER 20 ENVIRONMENTAL LAW CASES IN THIS CHAPTER Pulp Mills on the River Uruguay (Argentina v. Uruguay) European Communities—Measures Affecting Asbestos & Asbestos-Containing Products United States—Import Prohibition of Certain Shrimp and Shrimp Products Judgment of February 23, 1988 Skeena River […]

CHAPTER 21 Regulating The Competitive Environment CASES IN THIS CHAPTER Microsoft Corporation v. Commission of the European Communities Airtours v. Commission of the European Communities Schneider Elec. SA v. Commission of the European Communities Tetra Laval BV v. Commission of […]

CHAPTER 3 RESOLVING INTERNATIONAL COMMERCIAL DISPUTES CASES IN THIS CHAPTER Scherk v. Alberto-Culver Asahi Metal Ind. v. Superior Court of California, Solano County Pebble Beach Company v. Caddy Iragorri v. United Technologies Corp. & Otis Elevator Co. M/S Bremen v. […]

CHAPTER 4 The Formation and Performance of Contracts for the Sale of Goods CASES IN THIS CHAPTER Asante Technologies, Inc. v. PMC-Sierra, Inc Solae, LLC v. Hershey Canada, Inc. Chicago Prime Packers, Inc. v. Northam Food Trading Co. Harriscom Svenska, […]

CHAPTER 5 THE DOCUMENTARY SALE AND TERMS OF TRADE CASES IN THIS CHAPTER Banque de Depots v. Ferroligas Lite-On Peripherals, Inc. v. Burlington Air Express, Inc. Biddell Brothers v. E. Clemens Horst Co. Basse and Selve v. Bank of Australasia […]

CHAPTER 6 THE CARRIAGE OF GOODS AND THE LIABILITY OF AIR AND SEA CARRIERS CASES IN THIS CHAPTER El Al Israel Airlines, Ltd. v. Tseng Olympic Airways v. Husain J. Gerber & Co. v. S.S. Sabine Howalt Z.K. Marine, Inc. […]

CHAPTER 7 BANK COLLECTIONS, TRADE FINANCE, AND LETTERS OF CREDIT CASES IN THIS CHAPTER Maurice O’Meara Co. v. National Park Bank of New York Courtaulds North America, Inc. v. North Carolina National Bank Sztejn v. J. Henry Schroder Banking Corp. […]

CHAPTER 8 NATIONAL LAWMAKING POWERS AND THE REGULATION OF U.S. TRADE CASES IN THIS CHAPTER Dole v. Carter Youngstown Sheet & Tube v. Sawyer Star-Kist Foods, Inc. v. United States Arizona v. United States Japan Line, Ltd. v. County of […]

CHAPTER 9 GATT LAW AND THE WORLD TRADE ORGANIZATION: BASIC PRINCIPLES CASES IN THIS CHAPTER European Economic Community—Import Regime for Bananas Japan–Taxes on Alcoholic Beverages India—Quantitative Restrictions on Imports of Agricultural, Textile, & Industrial Products European Communities—Regime for the Importation, […]

ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking United States – Standard ID – BUSPROG STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: Obtaining Professional Assistance KEYWORDS: Bloom’s:Knowledge ANSWER: False […]

ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: International Law and the World‘s Legal System KEYWORDS: Bloom‘s: Application ANSWER: True POINTS: 1 […]

34. In the Bhopal, India, disaster, the Union Carbide subsidiary involved was owned 50.9% by the parent company with headquarters in Connecticut while the other 49.1% was controlled by Indians. The case on behalf of the victims was started in […]

True / False 1. Civil litigation is the primary means of settling contract disputes in the U.S. than in virtually any other country. a. True b. False 2. Many societies view litigation as evidence of personal achievement by the parties. […]

49. A U.S. company sends a purchase order to an Italian shoe company. The Italian shoe company sends a letter confirming the purchase order. The CISG provides: a. The acceptance by the Italian company cannot be withdrawn under any circumstances. […]

True / False 1. Under common law, a contract is formed when the notice of acceptance has been sent by the mode required by the other party under the mailbox rule. a. True b. False 2. Under common law, the […]

45. Bills of lading are meant to be: a. Substitutes for money. b. A means of transferring goods to buyers. c. Sight drafts. d. Guarantees for payment of the goods. ANSWER: b POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States […]

True / False 1. The St. Paul Guardian Ins. v. Neuromed Systems case held that international commercial terms were defined according to the Uniform Commercial Code. a. True b. False 2. The “bill of lading” is issued by the seller […]

True / False 1. A policy that is “free of particular average” is one that will not cover any partial and average losses. a. True b. False 2. Clean bill of lading is a carrier‘s guarantee, or warranty, of the […]

35. In order to prove the carrier’s liability under COGSA in court, the plaintiff must prove that the goods were loaded in a good condition and unloaded in a damaged condition or lost. This is usually done by: a. Questioning […]

True / False 1. A Bill of Exchange is a specialized type of non-negotiable instrument used to expedite payment in a documentary sale. a. True b. False 2. A documentary draft is a time draft that has thirty (30) day […]

36. The rule that usually prevails for interpreting documents that are submitted to a bank for payment under a letter of credit is commonly called the: a. Good faith rule. b. Reasonable compliance rule. c. Strict compliance rule. d. Holder […]

ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: National Lawmaking Powers and the Regulation of U.S. Trade KEYWORDS: Bloom’s: Comprehensive ANSWER: False […]

38. Tariffs are computed: I. As a percentage of value (ad valorem). II. On the basis of physical units (specific). a. I only. b. II only. c. Both I and II. d. Neither I nor II. 39. Tariffs serve all […]

True / False 1. The Uruguay round of tariff negotiations was the first major multilateral trade negotiating session since World War II. a. True b. False 2. Each nation has the power to regulate imports into the country and the […]

ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: Laws Governing Access to Foreign Markets KEYWORDS: Bloom‘s: Application ANSWER: True POINTS: 1 DIFFICULTY: […]

38. The requirements for import relief under U.S. law include all of the following except: a. Increased imports. b. Imports are substantial cause of serious injury or threaten injury. c. Domestic industry produces a product that is like or directly […]

True / False 1. In the Pesquera Mares Australes v. United States case, the court found that the Chilean salmon exporter had not violated U.S. antidumping laws. a. True b. False 2. The WTO frequently impose regulatory methods to control […]

40. The government agency responsible for determining the dutiable status of goods is: a. U.S. Commerce Service. b. U.S. Duties & Tax Service. c. U.S. Port of Entry Service. d. None of the above. ANSWER: d POINTS: 1 DIFFICULTY: Easy […]

True / False 1. In the United States v. Golden Ship Trading case, Wu, the owner, was found not liable because she exercised due care in verifying the merchandise was manufactured in the Dominican Republic. a. True b. False 2. […]

ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: Export Controls and Sanctions KEYWORDS: Bloom’s:Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: […]

36. Which of the following statements is untrue regarding trade between the U.S., Canada, and Mexico? a. Canada and the United States are each other’s largest trading partners. b. Mexico underwent a serious financial crisis in 1994. c. Some key […]

True / False 1. Production sharing is intended to create U.S. jobs by encouraging the use of U.S.-made components when assembly of a product takes place in a foreign country. a. True b. False 2. In Samsonite Corporation v. United […]

True / False 1. The Commission of the European Communities v. Italian Republic involved the importation of vegetable fats labeled as “chocolate substitutes.” a. True b. False 2. The Court of Justice is the final arbiter of EU law and […]

35. The representatives who serve on the European Commission are appointed by: a. The representative‘s own government. b. The Assembly. c. The Court of Justice. d. The Council. ANSWER: d POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG […]

35. Pursuant to EC Council Directive 86/653, an economic conditions alarm is sounded by the principal for the benefit of his or her agent: a. To give six-months prior notice of an increase in the agent’s sales quota. b. When […]

True / False 1. The Electra-Amambay case involved a local Paraguayan firm that was terminated for “just cause” from representing a Brazilian company. a. True b. False 2. The FCPA is a multilateral agreement among member nations of the WTO […]

True / False 1. In the licensing agreement the licensor would set the geographic and field-of–use limitations on licensees. a. True b. False 2. Licensees of IPRs are generally eager to operate under specific marketing quotas requested by the licensor. […]

37. The Paris Convention: a. Is the seminal patent protection treaty. b. Requires national treatment for foreign trademark and patent applications from signatory countries. c. Provides a trademark holder in any signatory country a twelve-month period of priority within which […]

True / False 1. North American and Western European countries generally accept the modern traditional theory of the taking of private property as provided under the “due process” clause of the U.S. Constitution. a. True b. False 2. Classical theories […]

43. In order to qualify for the favorable tax treatment of a Foreign Sales Corporation, a U.S. firm must meet all of the following tests, except: a. At least one director must be a nonresident of the U.S. b. Its […]

ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States – BUSPROG – Reflective Thinking STATE STANDARDS: United States – AICPA – AICPA – BB-Legal TOPICS: Labor and Employment Discrimination Law KEYWORDS: Bloom‘s:Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL […]

True / False 1. Investors in developing countries face minimal risk that environmental standards in those countries will become stricter over time and therefore is a competitive advantage in locating manufacturing facilities there. a. True b. False 2. The GATT […]

33. Developing nations generally favor a. Creation of a permanent trade and environment committee in the WTO. b. An ad valorem tax on all imports to promote environment-friendly development in poorer nations. c. Transfer of environmentally appropriate technology for little […]

True / False 1. The Airtours v. Commissioner of European Communities case involved the question of whether a merger between two members of the oligopoly in the short haul segment of the airline industry would create a “collective dominant” business […]

Multiple Choice 38. The European Union’s enforcement agency in antitrust matters, which is analogous to the U.S. Federal Trade Commission and Justice Department, is the: a. Commission of the European Union. b. European Enforcement Agency. c. European Antitrust Task Force. […]

The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) requires developing countries that are members of the WTO to adopt intellectual property laws similar to the United States. a. True b. False Answer: There is very little debate over […]

Ocean carriers are not liable for more than $500 per package where the shipper has had: a. The opportunity to purchase marine insurance. b. The opportunity to indicate the nature and value of the goods on the bill of lading. […]

Under a device known as nachfrist notice, the CISG allows either party — buyer or seller — to fix an additional period of time, beyond the date called for in the contract, for the other to perform. a. True b. […]

In an action to collect a customs penalty, the U.S. Treasury Department is the plaintiff and need only prove that the importer was negligent in providing misinformation. a. True b. False If a U.S. exporter is concerned about political and […]

The creation of a foreign subsidiary has few tax consequences to the foreign firm. a. True b. False Answer: Many countries grant preferential tariff treatment to select countries to help those countries’ economic development. For example, the United States grants […]

Some countries have enacted “language laws” in advertising in order to: a. preserve the purity of the country’s primary language. b. require advertisers to be clear and honest about their products. c. protect children from inappropriate language. d. All of […]

In J. Gerber & Co. v. SS Sabine Howaldt, a lawsuit brought by the owner of cargo (steel products) against an ocean carrier for damage to the cargo caused by sea water and moisture, the court ruled that: a. The […]

The Flammable Fabrics Act is an example of a technical regulation that is in violation of the principles of GATT/WTO. a. True b. False Under the Recognition of Licensing and Professional Qualifications, countries must recognize professional licenses granted by foreign […]

U.S. businesspeople complain that the quality of manufactured goods in the Mexican maguiladoras plants are below industry standards. a. True b. False The Free Trade Area of the Americas (FTAA) was successfully passed by the United States, Canada, Mexico and […]

Free movement of people in the EU: a. Allows EU residents to travel, live, study and work in other EU member states. b. Is not subject to any limitations whatsoever. c. Still requires border controls between most member states. d. […]

The following are all problems faced by developing countries in their business contract relationships with wealthier nations except: a. Lack of trained professionals to assist their governments in contract negotiations. b. Lack of natural resources to use as collateral for […]

One of the founding concepts of libertarian capitalism is caveat emptor, which means: a. truth in advertising. b. let the buyer beware. c. always maximize profits. d. sales potential. The GATT dispute panel found that Thailand’s regulations on the importation […]

The Four Freedoms include: a. Capital. b. People. c. Goods. d. All of the above. Answer: The European Parliament has criticized the European Commission for its flexible approach in the granting of block exemptions from normal competition rules for vertical […]

Under the modern traditional theory, the sovereign may nationalize foreign-owned property only where: a. It is for a public purpose. b. The foreign firm that owned the property was operating it unprofitably. c. A communist government takes over the country. […]

Unlike typical marine bills of lading, air waybills are: a. not legally binding. b. always electronic. c. non-negotiable. d. documents of title Members of the EU include the following countries except: a. France. b. Luxembourg. c. Italy. d. Switzerland. e. […]

In determining the description of an article under the tariff schedules by the courts a.Common meaning b.WTO definitions c.Scientific authorities and expert witnesses d.a and c COGSA governs the liability of ocean carriers for damage to goods while the goods […]

The primary instrument for effectuating trade relations is the granting of most favored nation status. a. True b. False A policy that is “free of particular average” is one that will not cover any partial and average losses. a. True […]

Often, investors must create legal structures for their investment that will maximize the foreign venture’s U.S. dollar resources. These might include: a. Borrowing start-up money in local currency. b. Buying supplies and services locally, using local currency. c. Building unitary […]

What do many legal historians believe led to the development of modern international law? a. the rise of the European nation-state b. Chinese dynastic law c. Roman law d. trade law in the Middle Ages A consignee can prove a […]

The term mediation when dealing with dispute resolution refers to the situation where: a. The two disputing parties settle the disagreement by themselves. b. A third party tries to bring the parties in conflict to a mutually satisfactory solution. c. […]

International Sales Law: I. Is not uniform because of vast political, cultural, and historical differences. II. Is embodied in the Convention on the International Sale of Goods. Which of the following is correct? a. Both I and II. b. Neither […]

Because international law is not dictated by any one legislative body, it is lawmaking by choice and by consent. a. True b. False Under the Foreign Sovereign Immunities Act, a federal court would not have jurisdiction over a foreign nation […]

Trade law has been used in the U.S. to further not only U.S. economic policy but also U.S. foreign policy. a. True b. False Answer: All of the following are principles established by the codes of conduct promulgated by the […]

Contract laws in socialist countries tend to be: I. Detailed, mechanical, and cumbersome. II. Enforced by private companies operating on behalf of the state. Which of the following is correct? a. Both I and II. b. Neither I nor II. […]

Developing countries are enforcing their respective environmental laws in order to reduce their industrial and transportation emissions. a. True b. False The term used to describe some action taken by a GATT member country in violation of the GATT agreement […]

Under contract terms “DES Stockholm,” the seller must pay the ocean freight to Stockholm, but the buyer pays the unloading charges at the Stockholm terminal. a. True b. False A good faith purchaser is one who purchases a document of […]

A home country refers to the country under whose laws the investing corporation was created or is incorporated. a. True b. False In order to participate in the Monetary Union, Maastricht requires European Union members to achieve all of the […]

The GATT Agreement authorizes countervailing duties to offset the effect of subsidies on imports that cause or threaten material injury to a domestic industry. a. True b. False Regarding NAFTA’s investment provisions: a. Domestically owned companies are given priority over […]

The Trade Agreements Act of 1979 contains a provision allowing standard-setting by the U.S. government on private U.S. firms. a. True b. False Answer: In the Crosby v. National Foreign Trade Council case, the US Supreme Court ruled that the […]

The concept of local participation refers to: a. A portion of the employees of the business in the host country will be nationals of the home country. b. Employees of the business contribute a certain number of hours to community […]

Nations that express their willingness to join a treaty are called: a. ratifiers. b. signatories. c. contracting parties. d. abrogators. Answer: If the seller wishes to make his goods available to the buyer at his place of business with the […]

If a question arises over a trade usage, the CISG provides that: a. No reference to trade usage is allowed by a court. b. A court can look at those trade usages that the parties knew or ought to have […]

Himalaya Clauses in bills of lading: a. Protect the carrier for damage to cargo being transported over mountainous and rugged terrain. b. Protect stevedores from liability in loading and unloading ships. c. Protect only the shipper for improper packaging of […]

Under normal trade relations, when a nation extends some privilege or right to one of its trading partners, that privilege automatically becomes applicable to all other trading partners. a. True b. False Answer: Which of the following does not generally […]

The World Intellectual Property Organization defines intellectual property rights as ‘legal rights which result from intellectual activity in the industrial, scientific, literary, and artistic fields.’ a. True b. False Answer: In a global trade transaction, Dicky ships goods under a […]

American law fails to regulate pesticides that are exported to other countries. a. True b. False The GATT Agreement on Safeguards permits a member state to increase tariffs on an imported product in order to allow a domestic manufacturer to […]

Under U.S. law, corporations are taxed on all income, including income from foreign sources that is repatriated back to the United States. a. True b. False A holder in due course, as defined by the UCC, includes which of the […]

Contract negotiations in Japan are characterized by all of the following except: a. The Japanese desire for group harmony and consensus. b. The importance of not losing face or becoming embarrassed. c. The presence of lawyers during the negotiations to […]

The U.S. prohibits the export of pesticides not approved by the U.S. EPA. a. True b. False The negative implication doctrine means that state governments may not enact laws that impose a substantial burden on foreign commerce. a. True b. […]

Regarding environmental issues and NAFTA: a. NAFTA sets strict environmental and ecological standards for all three countries. b. NAFTA calls for the three countries to work together to develop common environmental standards. c. NAFTA countries can continue to ban pesticides […]

According to Incoterms, the trade term that represents the maximum responsibility of the seller is: a. Carriage and Insurance Paid To. b. Delivered Duty Paid. c. Ex Works. d. Delivered at Frontier. e. None of the above. An importer in […]

Which of the following statements is untrue regarding NAFTA and nontariff barriers? a. Most nontariff barriers were to be eliminated within five years under NAFTA. b. NAFTA prohibits new export taxes on goods under any circumstances. c. Special rules allow […]

Gertrude Clodfelter, an 80 year old resident of North Dakota, recently filed a lawsuit in Florida against Islander Cruise Company, a Florida corporation, seeking damages as a result of a fall she suffered in the shower during a cruise to […]

The SWIFT System is an electronic network to handle for the exclusive transmission of international banking transactions and regulated by the World Bank. a. True b. False Answer: Under the FPCA, U.S. courts have jurisdiction over a person who commits […]

The precise structure of inactive investment in a foreign nation depends largely on the treatment of the structure under the tax laws of the host country and the U.S. a. True b. False The seller’s bank acting as an advising […]

The purpose of the bill of lading is to: a. Transfer title of the goods to the freight forwarder. b. Prevent shipping delays. c. Enable the seller to transfer title of the goods to the buyer and receive payment. d. […]

The impact of piracy on the revenue loss as estimated by the Motion Picture Association of America is approximately $1.5 billion per year. a. True b. False Answer: California Agricultural Aircraft Services, Inc. (CAAS) is a California corporation headquartered in […]

When evaluating the effect of a merger, the European Union seeks to determine: a. The impact of the merger by totaling the total number of competitors left. b. Amount of capital invested in the combined companies in relation to the […]

The Treaty of Lisbon included all of the following except: a. Renaming the EEC to the EU. b. The right for states to withdraw from the EU. c. A citizen’s initiative process. d. Elevation of the European Council to a […]

Many countries require pre-clearance of children’s television advertising. a. True b. False U.S. Customs regulations specify many articles that are exempt from marking requirements. Some of these are: a.Eggs, flowers, nuts, and bolts. b.Products that cannot be marked without injury. […]

Ocean carriers are liable for damages resulting from which of the following: a. Providing a seaworthy ship at the beginning of the voyage. b. Mismanagement of the ship that causes a shipwreck. c. Errors in navigation that cause a mid-ocean […]

Tariffication is the process in which quotes, licensing schemes, and other nontariff barriers to trade are “converted” to tariffs. a. True b. False Answer: Tariffs on imported products are imposed for which of the following reasons: a. Collection of revenue. […]

Which convention calls for contracting parties to criminalize bribery of public officials and money laundering? a. UN Convention Against Crime b. UN Convention of Extraterritoriality c. UN Convention Against Corruption d. None of the above The Commerce Clause vests the […]

Which of the following statements is untrue regarding trade between the U.S., Canada, and Mexico? a. Canada and the United States are each other’s largest trading partners. b. Mexico underwent a serious financial crisis in 1994. c. Some key industries […]

In order to avoid a charge of violating the FCPA, commissions and other payments to a foreign sales agent should conform to customary rates normally paid to agents of that kind in the foreign nation. a. True b. False A […]

When a nation that belongs to WTO imposes a tariff or quota on imported products, it is supposed to do so within the guidelines established by GATT. If it does not do so within GATT’s guidelines: a. The offending nation […]