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Business Law
Q:
An independent contractor is under the direct control of the person hiring him/her.
Q:
An employee will be personally liable to the third party when he or she acts without actual or apparent authority.
Q:
An employee is always liable for the intentional torts he commits even if the torts were committed during the scope of employment.
Q:
An employer is liable for the intentional torts of its employee regardless of whether the torts were committed during the scope of employment.
Q:
A non disclosure clause allows an employee to work for a competitor, but restricts the disclosure of certain information.
Q:
A non compete clause which restricts competition throughout an entire city would be acceptable.
Q:
A non compete clause which restricts competition throughout the U.S. would be too broad.
Q:
The original Bond is back with Sean Connery contracting to play 007 in Never Say Never Again. If Connery refused to play the part and left to act in another film, the producer, could get an injunction.
Q:
An injunction can never be granted in personal service contracts.
Q:
An employer will be liable to an employee for any injuries sustained because of tools or equipment that were not in proper working order.
Q:
An employee is entitled to the reasonable value for services performed if no fee was agreed upon.
Q:
An employee may keep funds received in his or her own account so long as he or she keeps an accurate record to justify it.
Q:
An employment relationship is a fiduciary one, based on trust and confidence.
Q:
Implied authority is the authority the employee professes to have which induces a reasonable person to believe in the employee.
Q:
An employee and an independent contractor may be the same.
Q:
An employer has direct control over the work performed by an independent contractor.
Q:
A lawyer who has his/her own practice would be regarded as an independent contractor.
Q:
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?
Q:
Capital Diversified Corporation (CDC) owns assets in Dagistan, a new country in Asia. The government of Dagistan wants to nationalize all assets owned by foreign firms and investors. What can CDC do? Can it at least obtain payment for the assets?
Q:
Fabiola, or any foreign citizen, can bring a civil suit in a U.S. court for
A.a violation of a treaty of the United States only.
B.a violation of a treaty of the United States or of the law of nations.
C.a violation of the law of nations only.
D.no purpose.
Q:
Qang and other foreign citizens allege human rights violations committed overseas by the government of Burma on behalf of Railway Construction Company, a U.S. firm. To seek redress for their injuries in a U.S. court, these citizens can
A.issue a letter of credit.
B.bring civil suits under the Alien Tort Claims Act.
C.file criminal complaints under Title VII of the Civil Rights Act.
D.do nothing.
Q:
Sam, or any U.S. citizen, can bring a civil suit in a U.S. court against a foreign entity for
A.a tort allegedly committed in the United States only.
B.a tort allegedly committed in the United States or overseas.
C.a tort allegedly committed overseas only.
D.no purpose.
Q:
Fact Pattern 31-1
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 31-1. To obtain payment, Lapland must comply with all of the requirements of the letter of credit
A.strictly.
B.substantially.
C.reasonably.
D.materially.
Q:
Fact Pattern 31-1
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 31-1. In a letter of credit, the beneficiary is
A.Lapland.
B.Oboe.
C.First State Bank.
D.none of these choices.
Q:
Fact Pattern 31-1
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 31-1. First State Bank
A.is responsible for making sure that the parties perform the contract.
B.will make payment once the transaction has been completed.
C.will make payment when Lapland presents the proper documents.
D.none of these choices.
Q:
Fact Pattern 31-1
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 31-1. First State Bank must pay Lapland when Lapland
A.enters into the contract with Oboe.
B.verifies that Oboe has the money to pay for the purchase.
C.complies with the terms and conditions of the letter of credit.
D.none of these choices.
Q:
Quality Energy Company, a U.S. firm, and Royal Petro, a Dutch firm, enter into a contract that includes an arbitration clause. This clause must provide that the arbitrator will be
A.any specified third party.
B.the American Arbitration Association.
C.the Dutch Arbitration Organization.
D.the International Chamber of Commerce.
Q:
Bigg Business Corporation, a U.S. firm, and Comercial Grande, S.A., a Mexican firm, are parties to a contract that does not specify a choice of law. The governing law is that of
A.any third country.
B.Spain.
C.the buyer's place of business.
D.the seller's place of business.
Q:
A clause in a contract between Timber Corporation, a U.S. business, and Wang, Ltd., a Japanese business, specifies that disputes over the contract will be adjudicated in the United States. This is
A.a choice-of-forum clause.
B.a choice-of-law clause.
C.a force majeure clause.
D.an arbitration clause.
Q:
The United States is a member of the World Trade Organization, which, among its members,
A.does not affect trade barriers.
B.maximizes trade barriers.
C.minimizes trade barriers.
D.outlaws trade barriers.
Q:
The United States and other members of a certain organization agree to grant normal trade relations status on each other with regard to imports and exports. This organization is
A.the Convention on Contracts for the International Sale of Goods.
B.the International Export-Import Bank.
C.the United Nations.
D.the World Trade Organization.
Q:
Chiang 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.defalcation.
C.dumping.
D.expropriation.
Q:
Vieux Carr S.A., a French firm, imports its goods into the United States and offers those goods for sale at "less than fair value." "Fair value" is the price of
A.comparable goods in a select "basket" of other countries.
B.Vieux Carr's goods in France.
C.Vieux Carr's goods in the United States.
D.Vieux Carr's goods on the world market.
Q:
The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is
A.a dumping duty.
B.an antidumping duty.
C.a quota.
D.a tariff.
Q:
The United States taxes each barrel of imported oil at a flat rate. This is
A.an antidumping duty.
B.a dumping duty.
C.a quota.
D.a tariff.
Q:
Congressman Walden and other politicians want to prohibit the import of certain agricultural products that pose a danger to domestic crops. With respect to these products' import, Congress can
A.do nothing.
B.impose quotas, but not tariffs.
C.impose tariffs, but not quotas.
D.prohibit the imports.
Q:
Senator Wyden and other politicians want to restrict the flow of technologically advanced products and data from the United States to other countries. To restrict or encourage exports, Congress can
A.do nothing.
B.assess antidumping duties.
C.impose export taxes.
D.set export quotas.
Q:
Secure Investments, Inc., a U.S. firm, expands into international markets through a joint venture. In this situation, Secure owns
A.all of the operation, and its profits and liabilities.
B.all of the operation, and none of its profits and liabilities.
C.none of the operation, and none of its profits and liabilities.
D.part of the operation, and shares its profits and liabilities.
Q:
Diners Corporation, a U.S. firm, signs a contract with Essen, A,G., a German firm, to give Essen the right to use Diners' trademark in restaurants in Germany. This is
A.a distribution agreement.
B.a joint venture.
C.direct exporting.
D.licensing.
Q:
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
A.a distribution agreement.
B.a joint venture.
C.direct exporting.
D.licensing.
Q:
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
A.a distribution agreement.
B.a joint venture.
C.direct exporting.
D.licensing.
Q:
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.
Q:
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
A.a travesty of justice.
B.the act of state doctrine.
C.the doctrine of sovereign immunity.
D.the principle of comity.
Q:
Call Center Corporation, a U.S. firm, owns property in India. The government of India seizes the property for a proper public purpose and pays Call Center just compensation. This is
A.confiscation.
B.defalcation.
C.dumping.
D.expropriation.
Q:
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
A.confiscation.
B.defalcation.
C.dumping.
D.expropriation.
Q:
Sudan seizes the assets of Triage Medical, Inc., a U.S. firm. Triage's recovery from Sudan in a U.S. court may be prevented by
A.the act of state doctrine.
B.the doctrine of sovereign immunity.
C.the Foreign Corrupt Practices Act.
D.the principle of comity.
Q:
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
A.a travesty of justice.
B.the act of state doctrine.
C.the doctrine of sovereign immunity.
D.the principle of comity.
Q:
Premier Clothing, Inc., a U.S. firm, obtains a judgment in a U.S. court against Quang Tri, Ltd., a Vietnamese business. Whether the court's judgment will be enforced by a court in Vietnam depends on the Vietnamese court's application of
A.the act of state doctrine.
B.the doctrine of sovereign immunity.
C.the principle of comity.
D.the World Trade Organization.
Q:
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
A.if Article 2 of the Uniform Commercial Code does not apply.
B.if a dispute is submitted to the International Court of Justice.
C.if the parties have not agreed otherwise in their contracts.
D.under all circumstances.
Q:
China and India form an agreement to govern their commercial exchanges with one another. This is
A.a bilateral agreement.
B.a lateral agreement.
C.a multilateral agreement.
D.a unilateral agreement.
Q:
The Association of Southeast Asian Nations is a regional trade association that was created through
A.a bilateral agreement.
B.a lateral agreement.
C.a multilateral agreement.
D.a unilateral agreement.
Q:
The government of Iran violates an international law. Persuasive tactics to remedy the situation fail. The only recourse of other nations is to
A.approve the European Union's enforcement of the law.
B.ask the International Court of Justice to enforce sanctions.
C.seek enforcement of the law through the United Nations.
D.take coercive actionsever relations, impose boycotts, go to war.
Q:
The government of the United States and the governments of other nations have the power to enforce their respective national laws within their borders. The power to enforce international law within the borders of all nations rests with
A.no court or international organization.
B.the European Union.
C.the International Court of Justice.
D.the United Nations General Assembly.
Q:
The law of Chile, Germany, or Japan is
A.global, transnational law.
B.national law.
C.private international law.
D.public international law.
Q:
U.S. laws that prohibit discrimination in employment do not apply to U.S. employees working for U.S. firms located abroad.
Q:
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.
Q:
A foreign citizen can bring a civil suit in a U.S. court for a violation of international law.
Q:
A foreign citizen can bring a civil suit in a U.S. court for a violation of a treaty of the United States.
Q:
Under a letter of credit, the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.
Q:
A contract for an international business deal should not specify a method of payment.
Q:
A contract for an international business deal should specify the currency in which payment is to be made.
Q:
Foreign exchange markets comprise a worldwide system for buying and selling currency.
Q:
Force majeure clauses in international business contracts commonly set forth the major clauses of the contracts.
Q:
The chief aim of the European Union and other trade organizations is to minimize trade barriers among their members.
Q:
The chief aim of the World Trade Organization and other trade agreements is to maximize trade barriers among their members.
Q:
Dumping is the sale of imported goods at "greater than fair value."
Q:
Antidumping duties are the responsibilities of international environmental polluters.
Q:
Dumping is the exporting of environmentally polluting goods to a foreign market.
Q:
Tariffs are taxes on imports.
Q:
Quotas are limits on the amounts of goods that can be imported.
Q:
Tariffs are imposed only on exports.
Q:
Restrictions on imports may include quotas.
Q:
All nations have restrictions on imports.
Q:
Restrictions on exports may include tariffs.
Q:
Congress cannot impose any restrictions on exports except taxes.
Q:
A party to a licensing agreement generally agrees to pay royalties on some basis.
Q:
A foreign state is immune from the jurisdiction of U.S. courts as long as the state is involved in commercial activity in the United States.
Q:
The doctrine of sovereign immunity can immunize a foreign nation from the jurisdiction of U.S. courts.
Q:
The Foreign Sovereign Immunities Act spells out the particulars of what constitutes a commercial activity.
Q:
Under the act of state doctrine, a firm whose assets a foreign government has expropriated may not recover compensatory damages in a U.S. court.