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Exam 22: International Law in a Global Economy

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Question 1

True/False

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Quotas are limits on the amounts of goods that can be imported.

A) True
B) False

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Question 2

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Hemisphere Financial Corporation,a U.S.firm,files a suit against Italy in a U.S.court.Italy claims foreign sovereign immunity.Under the Foreign Sovereign Immunities Act,this claim is determined by

A) a neutral third-party court.
B) an international law court.
C) an Italian court.
D) the U.S. court in which the suit is filed.

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

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Question 3

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All nations have restrictions on imports.

A U.S.citizen can bring a civil suit in a U.S.court against a U.S.entity for a tort allegedly committed overseas.

Fact Pattern 22-1 First State Bank issues a letter of credit in favor of Oboe Company, an American firm, to facilitate an international sales contract to buy resources from Lapland Mining, Ltd., a Finnish company. -Refer to Fact Pattern 22-1.First State Bank

The government of Japan sets a limit on the amount of rice that can be imported from the United States.This is

Michael,a citizen of Ireland,and Nina,a citizen of the United States,enter into a contract.When Nina breaches the contract,Michael obtains an award of damages in an Irish court.He asks a U.S.court to enforce the award.The U.S.court defers to and enforces the Irish court's decree.This is

China and India form an agreement to govern their commercial exchanges with one another.This is

Any conspiracy that has a substantial effect on U.S.commerce is within the reach of the U.S.antitrust laws.

Tariffs are taxes on imports.

Under the principle of comity,a foreign business that deals with a U.S.business may be subject to U.S.law.

Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for

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

Yoko,Ltd.,and Zeno,S.A.,transact an international sale of goods.For these parties,and other international buyers and sellers,the United Nations Convention on Contracts for the International Sale of Goods spells out the duties that apply

Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.

Generally,a foreign government cannot sue under U.S.antitrust laws in U.S.courts.

A foreign citizen can bring a civil suit in a U.S.court for a violation of a treaty of the United States.

Optima Medico Corporation,a U.S.firm,signs a contract with Pharma Beneficial,Ltd.,a Canadian firm,to give Pharma the right to sell Optima's products in Canada.This is

UniOil,a U.S.firm,owns property in Venezuela.When the government of Venezuela seizes the property,UniOil asks a U.S.court to order the property's return.The court rules that Venezuela is exempt from the court's jurisdiction.This is

Mountain Mining Company,a U.S.firm,owns property in Bolivia.The government of Bolivia seizes the property for an illegal purpose without paying just compensation.This is