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Exam 43: International and Space Law

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Question 41

True/False

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Confiscation occurs when a government seizes a privately owned business for a proper public purpose and awards just compensation.

A) True
B) False

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Question 42

Multiple Choice

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Wei Ltd., a Chinese firm, imports its goods into the United States and offers those goods for sale at "less than fair value." This is

A) confiscation.
B) a trade barrier.
C) dumping .
D) expropriation .

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

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Question 43

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Desayuno de Chile S.A., an export company in Chile, and Deli Source Inc., an import firm in the United States, enter into a contract. When Deli breaches the contract, Desayuno obtains an award of damages in a Chilean court. Desayuno then asks a U.S. court to enforce the award. The U.S. court defers to and enforces the Chilean court's decree. This is

Airbud Corporation, a U.S. firm, signs a contract with Bueno Computadores Ltd., an Argentinean firm, for a shipment and payment for Airbud's goods. This is

The management of Sport Shoes Corporation, a U.S. firm, wants to expand into foreign investment and employment markets. They are considering either opening their own production facility in a foreign country or entering into a licensing agreement with a foreign firm. What are the advantages and disadvantages of each of these courses of action?

Under the Export Trading Company Act, U.S. banks are

A tariff is a set limit on the amount of goods that can be imported.

Under the Outer Space Treaty, a moon, a planet, an asteroid, or any other celestial body is subject to the appropriation of

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

Royal Hotel Corporation, a U.S. firm, establishes a wholly owned subsidiary in Singapore. As a parent corporation, with respect to the subsidiary, Royal retains complete ownership of

A body of law-formed as a result of international customs, treaties, and organizations-that governs relations among or between nations is

International contracts are more complicated than contracts between parties from the same country because of language and custom differences.