Multiple Choice Questions
1. With which country does the United States trade more than any other?
A. Mexico
B. Germany
C. China
D. United Kingdom
E. Canada
2. The Commerce Department alleges that Interlex, a foreign company, is selling Palm Pilots in the United States for less than the cost of production. The department is charging Interlex with
A. A NAFTA violation
B. Dumping
C. An FCPA infraction
D. An AECA violation
E. A CISG violation
3. “Choice of forum” refers to
A. The exporting venue
B. The importing venue
C. The country where legal disputes will be settled
D. The method of payment in an international contract
E. An inter-banking agreement designed to ensure payment for goods
4. The WTO rules that the nation of Lugubria must lower tariff s on software from the United States from 45 percent to 8 percent, but Lugubria refuses to comply. What can the United States do?
A. Nothing, because the WTO’s ruling is only a recommendation
B. Appeal to the United Nations
C. Appeal to the World Court
D. Impose retaliatory tariff s
E. File suit in federal court in the U.S.
5. Your Chicago company negotiates an agreement with a British company for the sale of goods. The contract does not specify the law that governs the agreement. If there is a dispute, what law will govern?
A. The UCC
B. The CISG
C. British law
D. Illinois law
E. EU law