International Business Law
Question Bank
Course Introduction
International Business Law examines the legal frameworks and regulations governing commercial transactions across borders, focusing on topics such as international sales contracts, dispute resolution, trade regulations, intellectual property, and ethical considerations in global business operations. The course provides students with a comprehensive understanding of how international treaties, customary practices, and regional agreements impact the conduct of business worldwide, preparing them to navigate the complexities and challenges of legal compliance, negotiation, and risk management in the international marketplace.
Recommended Textbook
International Business Law 6th Edition by Ray A. August
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Chapter 1: Introduction to International and Comparative Law
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Q1) What is the difference between the Merger Rule and the Moving Boundaries Rule?
Answer: Merger Rule is the legal rule that the treaties in effect in a former state remain in effect in its territory when it becomes part of a new state. If territory from one state shifts to another, the law of state succession applies the Moving Boundaries Rule. This holds that the treaties of the absorbing state displace the treaties of the receding state in the territory where sovereignty has changed.
Q2) Recognition comes about by a unilateral declaration, and it can be either explicit (express) or implicit (tacit).
A)True
B)False
Answer: True
Q3) Explain supranational powers.
Answer: Unlike most other intergovernmental organizations, the EU is endowed with supranational powers. That is, EU law within its scope of applicability is superior to the laws of the member states. This "supremacy principle" has two consequences: (1) the member states are required to bring their internal laws into compliance with EU law and (2) EU law is directly effective within the member states.
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Chapter 2: State Responsibility and Environmental Regulation
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Sample Questions
Q1) The requirement for a person to exhaust remedies cannot be waived by treaties.
A)True
B)False
Answer: False
Q2) The principle assertion that "each individual shall have appropriate access to information concerning the environment that is held by public authorities," was established in ________.
A) Resolution 2389
B) Agenda 21
C) the Stockholm Declaration
D) the Rio Declaration
Answer: D
Q3) In municipal law, the right of a government to "take" property for public purposes is known as ________.
A) jus commune
B) estoppel
C) arraignment
D) eminent domain
Answer: D
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Chapter 3: Dispute Settlement
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Q1) The ________ consists of the criteria that allow a court to assume criminal jurisdiction when the defendant is a national of the forum state.
A) territoriality nexus
B) nationality nexus
C) protective nexus
D) universality nexus
Answer: B
Q2) Differentiate between good offices and conciliation.
Answer: Mediation involves the use of a third party who transmits and interprets the proposals of the principal parties and sometimes advances independent proposals. When mediators provide a channel of communications only, it is said that they are offering their good offices. When they make a formal investigation and present a formal proposal, they are involved in a conciliation.
Q3) The protective nexus provides for jurisdiction when a national or international interest of the forum is injured by the offender.
A)True
B)False
Answer: True
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Chapter 4: The Multinational Enterprise
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Q1) A(n) ________ is a domestic firm that operates internationally through independent foreign agents.
A) national multinational enterprise
B) nonmultinational enterprise
C) international multinational enterprise
D) transnational companies
Q2) A business that grants licenses to a foreign national or foreign business entity is not a multinational enterprise.
A)True
B)False
Q3) The FCPA's antibribery provisions are only applicable to businesses and not individuals.
A)True
B)False
Q4) Setting up a subsidiary can benefit a multinational firm because the subsidiary's company status insulates the parent from unlimited liability.
A)True
B)False
Q5) How do the courts determine the members of a common enterprise?
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Chapter 5: Foreign Investment
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Q1) ________ are geographical areas wherein goods may be imported and exported free from customs tariffs and in which a variety of trade-related activities may be carried on.
A) Foreign priority sectors
B) Closed sectors
C) Free zones
D) Exclusive economic zones
Q2) Depriving a person or company of private property without compensation is called nationalization.
A)True
B)False
Q3) ________ is a procedure by which a buyer turns over the purchase price and the seller turns over the securities in a securities transaction.
A) Expropriation
B) Insider trading
C) Clearance and settlement
D) Conformity assessment procedure
Q4) What is a bonded warehouse?
Q5) Explain appraisal rights.
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Chapter 6: Money and Banking
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Q1) Which of the following is the most commonly used short-term liquid instrument for trading in the interbank market?
A) a certificate of deposit
B) a deed
C) a letter of credit
D) a check
Q2) Only countries that are parties to the Climate Change Convention or the ________ are eligible to receive funds from the Global Environment Facility (GEF).
A) Basel Convention
B) Convention on Biological Diversity
C) Kyoto Protocol
D) Bretton Woods Conference
Q3) Bank deposits made by individuals cannot be commingled by the bank for its own use.
A)True
B)False
Q4) How does a bank transfer money internationally?
Q5) Explain the role of the Bank for International Settlements as the central banks' bank?
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Chapter 7: Trade in Goods
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Q1) Prohibited subsidies are also known as red subsidies.
A)True
B)False
Q2) An actionable subsidy is permissible and nonchallengeable, such as government funding to underwrite research activities, to aid disadvantaged regions, or to help existing facilities adapt to new environmental requirements.
A)True
B)False
Q3) A customs union consists of a group of states that have reduced or eliminated tariffs among themselves but that maintain their own individual tariffs in dealing with other states.
A)True
B)False
Q4) Enlist the five main organs of the WTO.
Q5) Derived value is the customs value of goods that is based on their price calculated from the cost of manufacture, overhead, and handling.
A)True
B)False
Q6) Explain the Wassenaar Arrangement.
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Chapter 8: Services and Labor
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Q1) The Framework Agreement has a provision that authorizes an exception to the MFN treatment rule when the difference in treatment is the result of ________.
A) a member granting monopoly status to a service supplier
B) an agreement for the avoidance of double taxation
C) adopting the guidelines specified by the Council on Trade in Services
D) a member retaining restrictive laws governing services
Q2) Which of the following is a type of regulation against hiring foreign workers?
A) most-preferred-nation treatment
B) ultra vires rule
C) percentile legislation
D) nolo contendere
Q3) The Treaty Establishing the European Community (EC Treaty) is meant to promote
A) the private individual's liability for violations of international law
B) the use of the most-favored-nation (MFN) treatment within the EU member states
C) the use of Special Drawing Rights within the EU member states
D) the comprehensive economic integration of EU member states
Q4) What are visas? How many types of visas are allowed with respect to duration?
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Chapter 9: Intellectual Property
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Q1) What are the two types of intellectual properties?
Q2) Parties to multilateral agreements are prevented from entering into bilateral arrangements.
A)True
B)False
Q3) The right of an author to prohibit others from tampering with a copyrighted work is called the right of performance.
A)True
B)False
Q4) A franchise in which the franchisee sells products it manufactures from a formula or from ingredients provided by the franchisor is called chain-style business.
A)True
B)False
Q5) ________ is the right of an author to place a copy of a copyrighted work into circulation for the first time.
A) Right of reproduction
B) Right of distribution
C) Property right
D) Neighboring right
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Chapter 10: Sales
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Q1) In the case of a destination contract, the risk of loss passes to the buyer ________.
A) when the goods are handed over or placed at his disposal at that place
B) as soon as he/she accepts the contract in writing
C) when the goods are handed over to the first carrier for shipment
D) at the time the contract is concluded
Q2) Explain the seller's remedy of avoidance of installment contracts.
Q3) In which of the following cases can anticipatory avoidance be claimed?
A) if the buyer willingly agrees to accept nonconforming goods
B) if the seller does not get payment from the buyer
C) if the seller's only employee capable of producing the goods dies or is not available
D) if the buyer notices that the goods are defective after accepting the goods
Q4) Which of the following features of a contract is excluded from the CISG?
A) the rights of third parties
B) the formation of the contract
C) the remedies available to the buyer
D) the remedies available to the seller
Q5) How is the place for delivery decided for contracts?
Q6) What is the buyer's obligation for payment?
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Chapter 11: Transportation
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Q1) In civil law countries, the lien exists against the owner as a debtor.
A)True
B)False
Q2) Differentiate between a voyage charterparty and a time charterparty.
Q3) A ________ is a charge or claim against a vessel or its cargo.
A) certiorari
B) demurrage
C) dead freight
D) maritime lien
Q4) Differentiate between a straight bill of lading and an order bill of lading.
Q5) The trade term "________" is used when the seller fulfills his obligations to deliver when the goods have been placed alongside the vessel on the quay or in lighters at the named port of shipment.
A) free alongside
B) free on board
C) free carrier
D) common carrier
Q6) What is the purpose of a maritime lien?
Q7) Explain the Himalaya Clause.
Q8) Explain the trade term "free on board."
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Chapter 12: Financing
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Q1) Both the common law and the ULB specify that ________.
A) the amount in the instrument can be paid in installments
B) the sum paid for the negotiable instrument must be money
C) the amount to be paid in an instrument is subject to variable interest rates
D) the instrument need not be signed to be considered negotiable
Q2) Which of the following is a similarity between a qualified endorsement and an endorsement prohibiting further endorsement under the ULB?
A) In both the endorsements, the endorsee has no rights against the endorser.
B) In both the endorsements, the endorsee is considered a holder of the instrument.
C) In both the endorsements, the endorsee is considered a collecting agent for the endorser.
D) In both the endorsements, the endorsee has no rights against endorser until a stipulated condition is met.
Q3) What features should be present in a bill so that it meets promissory requirements?
Q4) Describe the unconditionality feature of a bill or note.
Q5) What is a bearer paper?
Q6) Describe the ways in which a bill or note can be paid.
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