Test 2

Question 1

International agreement

Answer 1

There are many sources but international law is derived from multiple sources formed without the benefit of a single court system

Question 2

Business law

Answer 2

Anti-trust issues, securities regulation

Question 3

Treaties

Answer 3

Most binding form of international agreement and only as good as the signatory country wants it to be

Question 4

How treaties are treated in the US

Answer 4

Are the supreme law of the land when made pursuant to U.s constitution
The most force of law
2/3 vote of the senate is required

Question 5

Custom

very important source of international law

Answer 5

dealing b/t parties
represent similar pattern of habitual behavior among a number of states over a period of time with the prevailing idea that this behavior is lawful (or not) constitute a source of international law

Question 6

NAFTA

Answer 6

North American

Question 7

CAFTA-DR

Answer 7

Central America-Dominican Republic

Question 8

MERCUSOR

Answer 8

South American union

Question 9

The United Nation was created in 1945 to

Answer 9

maintain peace and security in the world
promote economic and social cooperation
protect human rights

Question 10

What agencies influence policy and monitor country behavior for violation of basic rules of humanity and businesses

Answer 10

UNESCO (education, scientific, cultural)
UNICEF
IMF
World Bank

Question 11

International Court of Justice

Answer 11

judicial branch of the U.N
also known as World Court
locate in Netherlands
judges from U.N countries sitting on the panel

Question 12

Why World Court is ineffective

Answer 12

Only states can be parties
States must have accepted the court’s jurisdiction
there is no ability to set precedent or effective enforcement facility

Question 13

Can U.N or World Court have power to enforce WC decisions on the parties?

Answer 13

Neither of them have

Question 14

3 NO regarding international law

Answer 14

No single world legislature to enact international law
no single executive branch to enforce it
no single court system to resolve disputes

Question 15

compliance by a sovereign country

Answer 15

with whatever international rules there must be voluntary

Question 16

comity

Answer 16

the concept of respect for each nation’s actions

respect each other ore than might be expected

Question 17

GATS

Answer 17

General Agreement on Trade in services is important to the U.S as the U.S still generates much of the world’s intellectual property and services

Question 18

GATT

Answer 18

the basic concept of the General Agreement on Tariff and Trade is to liberalize world trade by three types of activities
tariff bargaining
quantitative restriction
settlement of disputes

Question 19

Who administered the GATT?

Answer 19

World Trade Organization

Question 20

normal trade relations (formerly Most Favored Nation)

Answer 20

GATT signatories must treat like goods equally regardless of member country of origin
there should be no discrimination in a country’s acceptance of goods based on their country of origin

Question 21

national treatment require

Answer 21

member states must treat imported goods and visitors as they would treat their own goods/citizen
this is similar to the purpose of U.S privilege and Immunity clause

Question 22

tariffs

Answer 22

nothing more than taxe
less tax–>more trade
Ad valorem: tariffs are assessed according to the value of the goods being imported
specific tariffs are assessed according to the number of goods being imported
mixed tariffs are mixture of the two, the assessment being made on the value of the goods and the number of the good being imported

Question 23

How U.S Customs and Border Protection agency force compliance with GATT

Answer 23

impose tariffs on imported goods and can impose countervailing duties on goods when the goods have been wrongly or falsely valued by the importer
custom officials can also sanction the importer who falsely reports the value of the imported goods

Question 24

When do countervailing duties apply?

Answer 24

The importing parties and their suppliers are granted government subsidies
dumping (pricing below cost) occurs

Question 25

Non-tariff trade barriers in opposition to GATT principles

Answer 25

anything besides a tax that raises the barriers to entry
1 quotas
2 embargoes
product and marketing regulation

Question 26

quotas

Answer 26

numeric limits as to the number of goods

Question 27

embargoes

Answer 27

prohibition of transfer of goods or services

Question 28

transparency issue

Answer 28

arise when a country does not want to allow imports but has no good reasson not to do so

Question 29

European Union (EU0

Answer 29

27 members, 12 uses Euro

Question 30

Council of ministers coordinates efforts to fulfill agreement

Answer 30

EU enact legislation and enforces compliance by member nation

Question 31

Four Freedom

Answer 31

freedom of movement of people
goods
services
capital

Question 32

matters on court jurisdiction and standing

Answer 32

the court in which the plaintiff files suit must have jurisdiction over the defendant.
For a court jurisdiction to be valid over foreign defendant, there must be “genuine connection” between country and the alleged corp or natural citizen
linked to ideas of minimum contact

Question 33

relationship between the nation and person

Answer 33

citizenship: privileges granted by virtue of the individual’s membership in the political community, may change
nationality: one’s birthplace, privileges are achieved by birth in the political community, does not change
naturalization: the process by which one becomes a citizen

Question 34

there is a difference b/t citizens based on their existence as natural persons or corp

Answer 34

corp must be included in the treaty or international agreement in order to qualify for privileges, otherwise the corp is not granted the same right

Question 35

international K law

Answer 35

one may contract to almost anything if the contract is entered into in a knowing and willing way

Question 36

3 kinds of contract law

Answer 36

common law contract for sales of services

UCC Art. 2 . contract for U.S domestic sales of goods

Question 37

Convention for Contract for the international sales of goods (CISG)

Answer 37

international equivalent of the UCC

Question 38

using a distributor

Answer 38

firm limit its losses,

distributer assumes the economic risk while the firm lose some control

Question 39

using agent

Answer 39

firm retains possibility of losses but retains more control over distribution process
like intermediary does not carry the risk of selling the goods

Question 40

subsidiaries or branch offices may be chosen

Answer 40

with subsidiaries: the parent company is limited with regard to its liability
with branches: parent is not deemed to be a separate legal entity and thus bears all the legal liability borne by the branch

Question 41

licensing

Answer 41

firm allows another firm to use its intellectual property for a fee
territorial restrictions placed on licensee’s market
provision for technical assistance are often included

Question 42

Choice of..

Answer 42

law (which law to be used)
language
forum
risk of loss: who bears the risk of loss