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 may suffer military retaliation by the other GATT members.
b. The offending nation may be subject to a proceeding pursuant to the WTO’s Dispute
Settlement Understanding.
c. The offending nation may end up in the World Court being sued for breach of its
GATT contract.
d. None of the above.
The Full Faith and Credit Clause of the U.S. Constitution applies to foreign court
judgments.
a. True
b. False
The European Court of Justice in the Sebago Inc. v. GB Unic, SA, (1999) E.T.M.R. 681
ruled that re-imports from a EU member country to another is in violation of the
Trademark Directive.
a. True
b. False
Congress grants the president emergency powers for responding to international
emergencies, which are defined as:
a. natural disasters within the U.S.
b. wars between the U.S. and other countries.
c. events that threaten American national security.
d. none of the above
The Commission of the European Union is headed by the College of Commissioners
and consists of twenty members.
a. True
b. False
All of the following are alternative methods for a U.S. investor entering into a joint
venture in a foreign country
except:
a. A foreign partnership.
b. A foreign corporation.
c. A U.S. corporation with a foreign branch.
d. A foreign expropriation.
Although bribery of government officials is considered a corrupt practice in the U.S.,
many countries traditionally considered it to be a standard operating procedure and
officials in those countries expected to be paid for granting certain favors and therefore
exempted from the Foreign Corrupt Practices Act.
a. True
b. False
Not all nations embrace environmental protection laws. For example, and lead the
emerging world’s resistance to global attempts to outlaw technologies believed to cause
climate change.
a. China and Singapore
b. China and India
c. India and Pakistan
d. Bangladesh and India
Under the modern traditional theory, the sovereign may nationalize foreign-owned
property only where:
a. It is done promptly.
b. It is done in a reasonable manner.
c. It is done after the foreign firm has been convicted of criminal behavior in the host
country.
d. It is done in a nondiscriminatory fashion.
The central problem in environmental law lies in determining which man has created
activities that alter the environment to an unacceptable extent.
a. True
b. False
“Bill of exchange” and “draft” are two names for the same type of negotiable
instrument.
a. True
b. False
Super 301 was created by Congress as a fast track measure to be used against countries
that fail to protect U.S. intellectual property rights.
a. True
b. False
Domestic agriculture support programs are politically charged issues that are obstacles
to achieving the principles of GATT/WTO.
a. True
b. False
According to Incoterms, the risk of loss or damage to goods under a CIF contract passes
from seller to buyer when:
a. The goods cross the ship’s rail at the port of shipment.
b. The goods are unloaded at the port of destination.
c. Title to the goods passes to the seller.
d. The goods leave the seller’s place of business.
If a country is willing to join a treaty but has an exception to the terms of the treaty, the
exception is called a(n):
a. ratification.
b. signatory.
c. reservation.
d. abrogation.
Under NAFTA, a country can make citizenship a requirement for intellectual property
rights protection.
a. True
b. False
Under the Reciprocal Trade Agreements Act, the President has the power to lower an
existing tariff on an imported product from Country A, On the basis of reciprocity,
Country A need not lower the tariff on that same product imported from the U.S. but
must lower tariffs on some product imported from the U.S.
a. True
b. False
Duty-free status is granted to Caribbean nations, including Cuba under the guidelines of
both CBERA and the GSP.
a. True
b. False
In Briggs and Stratton Corp. v. Baldridge, Briggs was blacklisted by Arab countries
because of its compliance with U.S. anti-boycott regulations. Briggs subsequently
brought a lawsuit claiming damages as a result of U.S. government action. Specifically,
Briggs demanded “just compensation” under the Fifth Amendment “takings clause.”
The court:
a. Invoked sovereign immunity to avoid taking subject matter jurisdiction.
b. Refused relief because the amount of damages was ‘speculative, at best.”
c. Refused relief because Briggs’s property had not been ‘seized or restrained.”
d. Allowed relief, since Briggs could demonstrate a complete taking of certain
contractual opportunities and reasonable investment expectations.
e. Refused relief because Briggs lacked ‘standing.”
Foreign Trade Zones are free ports provided by the import trading companies to
stimulate international trade by allowing the receipt of imports to be duty free.
a. True
b. False
Each nation has the right to impose import schemes and customs procedures as a means
to protect its citizens public health, safety, and morals.
a. True
b. False
The modern traditional theory recognizes the sovereign’s right to nationalize
foreign-owned property but places conditions on the exercise of that right.
a. True
b. False