3304 International Business

According to the doctrine of impartibility____________ .

A state is only responsible for action that are attributable to it.

which of the following categories can claim priority while applying for a permanent visa as established by the U.S, Immigration and Nationality Act?

Aliens with special skills

Which of the following is a dispute settlement organ of the WTO that is charged with administrating and carrying out the Dispute Settlement Understanding ?

Appellate Body

The____________ is an intergovernmental organization headquartered in Basel which functions as a bank for the world's central banks.

Bank for international settlements

___________ law enacted in some countries to obstruct the extraterritorial application of U.S. antitrust laws.

Blocking status

The ______________ is an agreement between a host state and a foreign state investors that say that the investor will not seek the diplomatic assistance of his her or its home state resolving disputes with a host state.

Calvo clause

Which of the following are sponsored by the ILO when is substantial agreement in the international community about a particular labor practices ?

Conventions

________________ are legally binding agreement between states sponsored by international organization.

Conventions

in civil law countries a ___________ is any private wrong or injury or a minor public or injury.

Delict

______________ is a form of international dispute settlement that attempt to reconcile parties to a disagreement by use of negotiation , mediation, or inquiry .

Diplomacy

accounts in domestic banks that are maintained and paid in a foreign currency are generally known as _________ .

Eurocurrency deposits

______________ is the state's taking or deprivation of the property of foreigners

Expropriation

The parts of a state's economy in which foreigners are encouraged to invest are called____________ .

Foreign priority sector

Depriving a person or company of private property without compensation is called___________ .

Foreign priority sectors.

______ are areas in international airports and harbors where travelers can buy goods free of local sales and exercise taxes.

Free retail zones

Patent differ from copyrights in that patents__________ .

Give its owner the exclusive right to use or sell a particular products

____________ is the proposal of developing countries that would established a common fund to under write the cost of maintaining a buffer stock of primary commodities as 2ay to stabilized supplies.

Intergraded Program for Commodities

The _______ is a specialized agency of the United Nations responsible for promoting international efforts to improve working condition.

International labor organization

Which of the following is true of Visa Wavier Program ?

It allow tourist to stay in a host nation for limited without a visa.

Which of the following is true of the composition of the International Court of Justice ?

It composed of 15 judges.

Which of the following is true of the World Trade Organization? (WTO)

It is responsible for implementing and enforcing the rules of international trade between nations.

which of the following characterized arbitration ?

It is the process by which parties to a dispute submit their differences to the judgment of an impartial third person or group selected by mutual consent.

Which of the following is true of the International Criminal Court?

Its jurisdiction and functioning are governed by the Rome Statue.

The treaty Establishing European Community and the _________ of 2010 are the principal sources of law in the Eu pertaining to business between its member states.

Lisbon treaty

The _________________ is the body of the World Bank that provides political risk insurance guarantees to private sector investors and lenders.

Multilateral Investment Guaranty Agency

A(n)_______________ is a business firm operating branches, subsidiaries, or joint ventures in 2 or more states.

Multinational enterprise

Under the CISG the fixing by the buyer of an additional reasonable period of time in which the seller may perform is known as ________ .

Nachfrist notice

Acquisition by a state of property previously held by private persons or companies usually in exchange for some consideration is called _________ .

Nationalization

The _____________ was issued by the United Nations Conferences on the Environment and Development and linked protection of its as related goals.

RIO declaration

____________ are situation that excuse a WTO member state from complying with its GATT Obligations when those are in conflict with its essential security interest under United Nations Charter.

Security exceptions

______________ is based on principles found in Koran and related writings.

Shari'a

The_____________ GATT scheme that allows developing states to grant tariff preferences to each other without having to grant them to developed states.

South-south preferences

which of the following is the reserve currency used by the IMF?

Special drawing right (SDR)

__________ promise foreign investors that the host government will not changes its tax, foreign exchanges or other legal regime for a certain period of time .

Stabilization clause

________ are mandatory laws and provisions that specify the characteristics of products

Technical regulation

Which of the following international treaty on global warming was adopted with the RIO Declaration ?

The United Nations Framework Convention on Climate Change

which of the following is true of corporate and companies being treated as separate legal entity?

The liability of the owners becomes limited to their investment in their company .

Which of the following is a relation between the world bank and the global environment facility (GEF)?

The world bank is responsible for managing the trust fund of the GEF.

The _____ was created in 1967 with adoption of the Stockholm convention

The world intellectual property organization

Which of the following is true of NAFTA members' right to change the limitations on their sectorial list ?

They can not make it more restrictive than it is.

A__________ is a legally binding agreement between 2 or more states.

Treaty

The world Intellectual Property Organization is responsible for administering the Paris and Berne Conventions.

True

The ______ is a law enacted by the United States in 1968 that authorizes the Securities and Exchange Commission to issue rules regulating take over bids.

Williams Act

Which of the following describes a spot contract?

a contract for the immediate sale and delivery of a commodity such as currency.

A group of states that have reduced or eliminated trade barriers among themselves and have established a common external tariff is called____________ .

a customs union

The doctrine of international standard of care states that_______.

a states is responsible for injuring an alien when the states' conduct violate international norms

Which of the following is true of subsidiary?

a subsidiary insulate the parent company from unlimited liability.

A(n) ________ is a that may challenged as trade distorting if it injuries the domestic industry of another WTO member state.

actionable subsidiary

which of the following is true of a company's agent situated in a foreign country?

an agent is not subject to the laws of the parent-nation.

unlike the U.S. uniform commercial code and some other domestic sales laws the CIGS rules of loss are not...........

an in-transit contract

The CISG differs from the United states Uniform Commercial code (UCC) in that the CISG_________ .

applied sale law only to merchants

visas are different from passport in that visas__________ .

are issued by the host nation

A______ is a contract to hire an entire ship for a voyage or for a period of time.

charterparty

The __________ is a provision in a contract designating the state whose law will govern disputes relating to the contract.

choice of law clause

The practice or courtesy existing between states of treating each other with goodwill and civility is called_________ .

comity

The process by which an impartial third party makes an independent investigation and suggests a solution to a dispute is called ______________ .

conciliation

only countries that are parties to the Climate change convention or the ____________ are eligible to receive funds from the Global Environment Facility (GEF).

convention on biological diversity

In municipal law, the right of a government to "take action" property for public purposes is known as __________ .

eminent domain

Parties to multilateral agreement are prevented from entering into bilateral arrangement.

false

The _______________ is a provision in a contract designating a particular court or tribunal to resolves any dispute that may arise concerning the contract.

forum selection clause

A_________ is a group of states that have reduced or eliminated tariff among themselves but that maintain their own individual tariffs in dealing with other states.

free trade area

A free zone located within or near a port city is called a(n)____________ .

free trade zone

__________ are geographical areas wherein goods may be imported and exported free from customs tariff and in which of trade-related activities may be carried on.

free zones

The ______________ doctrine holds that courts should apply the law of the state that has the most interest in determining of the out come of the dispute.

government interest

An international multinational enterprise differs from a multinational enterprise in that an international multinational enterprise__________ .

has 2 or more parent companies located in different states

The united Nation is a type of _______ .

intergovernmental organization

A subsidiary differs from a branch in that a subsidiary ___________ .

is a company organized as a separate legal emtity that is owned by the parebt

which of the following is true of the CISG's risk allocation between parties of a contract?

it allow parties to use incoterms for risk allocation.

In case a person with dual citizenship, which of the following is true about the lack of nationality objection for the 2 countries involved?

it cannot be used against the country of master nationality by the other country.

Which of the following is true of the International Fund for Agricultural Development (IFAD)?

its membership is open to any member of the UN.

The common law of Europe is called ______________ .

jus commune

which of the following term refers to GATS requirement that a WTO member state accord to services and services suppliers of other member states treatment no less than it listed?

market access

The ___________ is the money used to define the amount of an obligation .

money of account

A round is a meeting of the contracting parties of GATT to participate in ____________ .

multilateral trade negotiations

once goods are legally imported they must be treated the same way as domestic goods is called_________.

national treatment

Which of the following term refer to the assurance of a host government that foreign investors will be treated the same way as local investors?

non-discrimination guarantee

A(n) __________ is a domestic firm that operates internationally through independent foreign agents.

non-multinational enterprise

which of the following statement is true regarding the worlds intellectual property organization(WIPO)?

one of the responsible is resolving internet domain disputes

The OPIC provides insurance for creeping expropriations _________ .

only if the investor is willing to give up all claim to the investment even if the expropriation is partial.

The__________ establishes an international mechanism that allows inventors to make a single application for patent protection that is equivalent to making a filling in all member states.

patent cooperation treaty

Which of the following is a type of regulation against hiring foreign workers?

percentile legislation

The ________states that a statue or treaty is to be interpreted only from the words contained within the statue or treaty.

plain meaning rule

Products obtained by extraction or harvest that require minimal processing before being used are called____________ .

primary commodities

The UN's convention on contract for the International sale of goods (CISG) differs from the convention Relating to a Uniform Law on-----

represents all major legal system

The parts of states' economy that are not fully open to foreign investors are called____________ .

restricted sectors

The______________ is a rule applied by courts on a court on a case by case basis requiring them to consider all of the circumstances in deciding whether a restrictive practice should be prohibited as imposing an unreasonable restraint on competition in violation of Sherman Act section 1.

rule of reason

A(n) ___________ is an emergency action that WTO member state may take in order to protect its domestic industry from a serious injury due to a sudden increase in the quantity of an imported product.

safeguard

_______ prohibited contracts , agreement , and conspiracies that retrain interstate or international trade.

section 1 of Sherman Act.

Which of the following section of the IMF Articles of Agreement requires a member to buy its own currency from other members who have acquired it as the result of current transaction?

section 4 of article VIII

GATS differs from NAFTA in that GATS________ .

specifically defines four basic modes of supply

A doctrine which states that all persona, including the sovereign are subordinate to the rules of law is called the______________ .

supremacy of law

which of the following is true of damages under the CISG?

the party claiming damages is under an obligation to mitigate losses.

which of the following features is covered in the CISG?

the remedies available to the buyer

To determined if CISG applies to a particular contractual issue......

the remedies provided in CISG are the only remedies available.

which of the following features is excluded from the CISG?

the rights of third party

Which of the following IMF facilities essentially acts as bridging loans provided to member states while the IMF deliberates about whether to provide other funds to the particular member state?

the standby arrangement

A _____________ is a contract to hire an entire ship for a particular duration.

time charterparty

Which of the following would be a valid reason for the parent company to convert a branch into locally organized subsidiary?

to insulate the parent company from local liability

Cross-licensing agreement that involve any territorial restraint with respect to the manufacture use marketing of goods are invalid.

true

when the TRIPS agreement came into effect the minimum term of protection for patent was set at 20 years for the WTO member states.

true