LET 6e-TB-Ch07

97
CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY
Chapter 7
International Law in
a Global Economy
TRUE/FALSE QUESTIONS
1.
An international custom is a general practice accepted in the

international arena as law.
ANSWER: T
NAT: AACSB Analytic
2.
PAGE:
208
AICPA Legal
TYPE:
PAGE:
209
AICPA Legal
TYPE:
In a civil law system, the only official source of law is a statutory

code.
ANSWER: T
NAT: AACSB Analytic
5.
TYPE:
Legal systems around the world are generally divided into common
law and civil law systems.
ANSWER: T
NAT: AACSB Analytic
4.
208
AICPA Legal
A treaty is a contract or other agreement between two or more

nations that must be ratified by the United Nations to take effect.
ANSWER: F
NAT: AACSB Analytic
3.
PAGE:
PAGE:
209
AICPA Legal
TYPE:
Common law and civil law systems are wholly distinct.

ANSWER: F
NAT: AACSB Analytic
PAGE:
209
AICPA Legal
TYPE:
98
6.
UNIT ONE: THE FOUNDATIONS
In a civil law system, courts impose only civil sanctions for the
commission of crimes.
ANSWER: F
NAT: AACSB Analytic
PAGE:
209
AICPA Legal
TYPE:
99
7.
In a common law system, the courts independently develop the rules

governing certain areas of the law.
ANSWER: T
NAT: AACSB Analytic
8.
210
AICPA Legal
TYPE:
PAGE:
210
AICPA Legal
TYPE:
PAGE:
210
AICPA Legal
TYPE:
PAGE:
210
AICPA Legal
TYPE:
The act of state doctrine provides that only a head of state can make
treaties with another nation.
ANSWER: F
NAT: AACSB Analytic
13.
PAGE:
Under the principle of comity, foreign nations are exempt from the
jurisdiction of U.S. courts.
ANSWER: F
NAT: AACSB Analytic
12.
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.
ANSWER: T
NAT: AACSB Analytic
11.
TYPE:
Under the principle of comity, a foreign business that deals with a

U.S. business may be subject to U.S. law.
ANSWER: T
NAT: AACSB Analytic
10.
209
AICPA Legal
The principle of comity is based primarily on international treaties.

ANSWER: F
NAT: AACSB Analytic
9.
PAGE:
PAGE:
210
AICPA Legal
TYPE:
Confiscation occurs when a government seizes private property for a

proper public purpose and awards just confiscation.
ANSWER: F
NAT: AACSB Analytic
PAGE:
210
AICPA Legal
TYPE:
100
14.
A foreign state is immune from the jurisdiction of U.S. courts unless

the state is involved in commercial activity within the United States.
ANSWER: F
NAT: AACSB Analytic
15.
PAGE:
211
AICPA Legal
PAGE:
212
AICPA Legal
TYPE:
PAGE:
213
TYPE:
AICPA Critical Thinking
PAGE:
214
AICPA Legal
TYPE:
Congress cannot impose any restrictions on exports except taxes.

ANSWER: F
NAT: AACSB Analytic
21.
Restrictions on exports may include tariffs.

ANSWER: F
NAT: AACSB Analytic
20.
TYPE:
Franchising is a form of licensing.

ANSWER: T
NAT: AACSB Analytic
19.
A party to a licensing agreement generally agrees to pay royalties on

some basis.
ANSWER: T
NAT: AACSB Analytic
18.
TYPE:
A party to a licensing agreement agrees to keep certain information

confidential.
ANSWER: T
PAGE:
212
NAT: AACSB Reflective AICPA Critical Thinking
17.
The simplest way for a U.S. firm to do business in a foreign mar ket is
to export its products directly to that market.
ANSWER: T
PAGE:
212
16.
TYPE:
PAGE:
214
AICPA Legal
TYPE:
Dumping is the exporting of environmentally polluting goods to a

foreign market
ANSWER:
PAGE:
216
TYPE:
101
NAT: AACSB Analytic

22.
AICPA Legal
Antidumping duties are

environmental polluters.
the
responsibilities
ANSWER: F
NAT: AACSB Analytic
PAGE:
216
AICPA Legal
of
international
TYPE:
102
23.
Quotas are limits on the amounts of goods that can be imported.

ANSWER: T
NAT: AACSB Analytic
24.
216
AICPA Legal
TYPE:
PAGE:
216
AICPA Legal
TYPE:
Tariffs are taxes on imports.

ANSWER: T
NAT: AACSB Analytic
25.
PAGE:
The chief aim of the World Trade Organization and other trade
agreements is to maximize trade barriers among their members.
ANSWER: F
PAGE:
217
26.
217
AICPA Legal
TYPE:
PAGE:
218
AICPA Legal
TYPE:
Force majeure clauses in international business contracts commonly

stipulate eventualities that excuse a party from liability for
nonperformance.
ANSWER: T
NAT: AACSB Analytic
29.
PAGE:
When a forum-selection clause is included in an international

contract, legal proceedings are more complex and attended by more
uncertainty.
ANSWER: F
NAT: AACSB Analytic
28.
The primary aim of the North American Free Trade Agreement is to

eliminate tariffs among the United States, Canada, and Mexico.
ANSWER: T
NAT: AACSB Analytic
27.
TYPE:
PAGE:
219
AICPA Legal
TYPE:
Under a letter of credit, the issuer is bound to pay the beneficiary

after the beneficiary complies with the terms of the letter.
ANSWER: T
NAT: AACSB Analytic
PAGE:
221
AICPA Legal
TYPE:
103
30.
The whistleblower provisions of the Sarbanes-Oxley Act of 2002 have

foreign, as well as domestic, application.
ANSWER: F
NAT: AACSB Analytic
PAGE:
223
AICPA Legal
TYPE:
104
31.
Generally, a foreign government cannot sue under U.S. antitrust

laws in U.S. courts.
ANSWER: F
NAT: AACSB Analytic
32.
PAGE:
225
AICPA Legal
TYPE:
PAGE:
225
AICPA Legal
TYPE:
A foreign citizen can bring a civil suit in a U.S. court for a violation of
a treaty of the United States.
ANSWER: T
NAT: AACSB Analytic
35.
TYPE:
U.S. laws that prohibit discrimination in employment do not apply to

U.S. employees working for U.S. firms located abroad.
ANSWER: F
NAT: AACSB Analytic
34.
225
AICPA Legal
Any conspiracy that has a substantial effect on U.S. commerce is

within the reach of the U.S. antitrust laws.
ANSWER: T
NAT: AACSB Analytic
33.
PAGE:
PAGE:
226
AICPA Legal
TYPE:
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.
ANSWER: T
NAT: AACSB Analytic
PAGE:
226
AICPA Legal
TYPE:
MULTIPLE-CHOICE QUESTIONS
1.
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.
b.
c.
d.
no court or international organization.

the European Union.
the International Court of Justice.
the United Nations General Assembly.
105
ANSWER: A
PAGE:
208
NAT: AACSB Reflective AICPA Legal
2.
approve the European Unions enforcement of the law.

ask the International Court of Justice to enforce sanctions.
seek enforcement of the law through the United Nations.
take coercive actionsever relations, impose boycotts, go to
war.
ANSWER: D
PAGE:
208
a
a
a
a
bilateral agreement.
lateral agreement.
multilateral agreement.
unilateral agreement.
ANSWER: C
PAGE:
208
TYPE:
China and India form an agreement to govern their commercial exchanges with one another. This is
a.
b.
c.
d.
a
a
a
a
bilateral agreement.
lateral agreement.
multilateral agreement.
unilateral agreement.
ANSWER: A
PAGE:
208
5.
TYPE:
The Association of Southeast Asian Nations is a regional trade

association that was created through
a.
b.
c.
d.
4.
The government of Iran violates an international law. Persuasive

tactics to remedy the situation fail. The only recourse of other
nations is to
a.
b.
c.
d.
3.
TYPE:
TYPE:
Yokio, 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
106
a.
b.
c.
d.
if Article 2 of the Uniform Commercial Code does not apply.

if a dispute is submitted to the International Court of Justice.
if the parties have not agreed otherwise in their contracts.
under all circumstances.
ANSWER: C
NAT: AACSB Analytic
PAGE:
209
AICPA Legal
TYPE:
107
6.
Mexico has a civil law system. In theory, in this system, the courts
a.
b.
c.
d.
are obligated to follow the doctrine of stare decisis.

may not develop their own laws.
must create new rules of law.
must develop legal concepts by case law.
ANSWER: B
NAT: AACSB Analytic
7.
PAGE:
209
AICPA Legal
a travesty of justice.
the act of state doctrine.
the doctrine of sovereign immunity.
the principle of comity.
ANSWER: D
PAGE:
210
TYPE:
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.
b.
c.
d.
confiscation.
defalcation.
dumping.
expropriation.
ANSWER: D
PAGE:
210
9.
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
courts decree. This is
a.
b.
c.
d.
8.
TYPE:
TYPE:
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.
b.
c.
confiscation.
defalcation.
dumping.
108
d.
expropriation.
ANSWER: A
PAGE:
210
TYPE:
109
10.
Sudan seizes the assets of Triage Medical, Inc., a U.S. firm. Triages
recovery from Sudan in a U.S. court may be prevented by
a.
b.
c.
d.
the
the
the
the
act of state doctrine.

doctrine of sovereign immunity.
Foreign Corrupt Practices Act.
principle of comity.
ANSWER: A
PAGE:
210
11.
a travesty of justice.
the act of state doctrine.
the doctrine of sovereign immunity.
the principle of comity.
ANSWER: C
PAGE:
211
TYPE:
WiFi Corporation, a U.S. firm, signs a contract with Bueno

Computadores, Ltd., an Argentinean firm, for a shipment and
payment for WiFis goods. This is
a.
b.
c.
d.
a distribution agreement.
a joint venture.
direct exporting.
licensing.
ANSWER: C
PAGE:
212
13.
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 propertys return. The court rules that Venezuela is
exempt from the courts jurisdiction. This is
a.
b.
c.
d.
12.
TYPE:
TYPE:
Optima Medico Corporation, a U.S. firm, signs a contract with Pharma

Beneficial, Ltd., a Canadian firm, to give Pharma the right to sell
Optimas products in Canada. This is
a.
b.
c.
a joint venture.
direct exporting.
110
d.
licensing.
ANSWER: A
PAGE:
212
TYPE:
111
14.
Innovative Manufacturing Company, a U.S. firm, signs a contract with

Librador Corporacion, a Columbian firm, to give Librador the right to
use Innovatives production processes. This is
a.
b.
c.
d.
establishing a foreign manufacturing facility.
indirect exporting.
licensing.
ANSWER: D
PAGE:
212
15.
a joint venture.
direct exporting.
licensing.
ANSWER: D
PAGE:
212
TYPE:
Significant business develops in Mexico for Natural Beauty

Cosmetics, Inc., a U.S. firm. Natural Beauty appoints Ojos, Ltd., a
Mexican firm, to act as Natural Beautys marketing representative in
Mexico. This is
a.
b.
c.
d.
a joint venture.
franchising.
indirect exporting.
licensing.
ANSWER: C
PAGE:
212
17.
Adams Manufacturing Company, a U.S. firm, signs a contract with

Bolivar Corporacion, a Columbian firm, to give Bolivar the right to
use Adamss production processes. This is
a.
b.
c.
d.
16.
TYPE:
TYPE:
Senator Wyden and other politicians want to limit the flow of

technologically advanced products and data from the United States
to other countries. To carry out this objective, Congress can
a.
b.
do nothing.
assess antidumping duties.
112
c.
d.
impose export taxes.

impose export restrictions on these products.
ANSWER: D
PAGE:
214
18.
neither quotas nor tariffs.

quotas only.
quotas or tariffs.
tariffs only.
ANSWER: C
NAT: AACSB Analytic
PAGE:
214
AICPA Legal
TYPE:
Congresswoman Pelosi 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.
b.
c.
d.
do nothing.
impose quotas, but not tariffs.
impose tariffs, but not quotas.
prohibit the imports.
ANSWER: D
PAGE:
214
20.
World Trading Company imports products made in South America to

North America, including the United States. Restrictions on these
imports may include
a.
b.
c.
d.
19.
TYPE:
TYPE:
The government of Canada sets a limit on the amount of beef that

can be imported from the United States. This is
a.
b.
c.
d.
a dumping duty.
an antidumping duty.
a quota.
a tariff.
ANSWER: C
PAGE:
216
TYPE:
113
21.
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.
b.
c.
d.
comparable goods in a select basket of other countries.

Vieux Carrs goods in France.
Vieux Carrs goods in the United States.
Vieux Carrs goods on the world market.
ANSWER: B
PAGE:
216
22.
an antidumping duty.
a dumping duty.
a quota.
a tariff.
ANSWER: D
NAT: AACSB Analytic
PAGE:
216
AICPA Legal
TYPE:
Wang 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.
b.
c.
d.
confiscation.
defalcation.
dumping.
expropriation.
ANSWER: C
PAGE:
216
24.
The United States taxes each barrel of imported oil at a flat rate. This
is
a.
b.
c.
d.
23.
TYPE:
TYPE:
The Council of Ministers and the Court of Justice are among the
governing authorities of an international trading organization known
as
a.
b.
c.
d.
the
the
the
the
European Union.
North American Free Trade Agreement.
United Nations.
World Trade Organization.
114
ANSWER: A
NAT: AACSB Analytic
25.
PAGE:
216
AICPA Legal
TYPE:
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.
b.
c.
d.
the Convention on Contracts for the International Sale of

Goods.
the International Export-Import Bank.
the United Nations.
the World Trade Organization.
ANSWER: D
NAT: AACSB Analytic
PAGE:
217
AICPA Legal
TYPE:
115
26.
Sam, or any U.S. citizen, can bring a civil suit in a U.S. court against
a foreign entity for
a.
b.
c.
d.
a tort allegedly committed in the United States only.

a tort allegedly committed in the United States or overseas.
a tort allegedly committed overseas only.
no purpose.
ANSWER: B
NAT: AACSB Analytic
27.
PAGE:
217
AICPA Legal
a choice-of-forum clause.
a choice-of-law clause.
a force majeure clause.
an arbitration clause.
ANSWER: A
PAGE:
218
TYPE:
Bytes Business Corporation, a U.S. firm, and Comida Comercial, 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.
b.
c.
d.
any third country.

Spain.
the buyers place of business.
the sellers place of business.
ANSWER: C
PAGE:
218
29.
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.
b.
c.
d.
28.
TYPE:
TYPE:
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.
b.
c.
d.
any third party.

the American Arbitration Association.
the Dutch Arbitration Organization.
the International Chamber of Commerce.
116
ANSWER: A
PAGE:
219
30.
the
the
the
the
act of state doctrine.

doctrine of sovereign immunity.
Foreign Corrupt Practices Act.
principle of comity.
ANSWER: C
PAGE:
225
TYPE:
Apple Sweets, Inc., a U.S. firm, enters into an agreement with

Belgian Exportes, Ltd., a Belgian firm, to fix the price of chocolate in
the U.S. market. Candy, Inc., a U.S. firm, files a suit against both parties, alleging that their agreement violates U.S. antitrust laws.
Assuming that the agreement is a per se violation of those laws, a
U.S. court could exercise jurisdiction over
a.
b.
c.
d.
Apple Sweets and Belgian Exportes.

Apple Sweets only.
Belgian Exportes only.
neither Apple Sweets nor Belgian Exportes.
ANSWER: A
PAGE:
225
32.
To obtain a contract with the Chinese government, Digby

Engineering Corporation a U.S. firm, gives a Chinese official a sport
utility vehicle. This may violate
a.
b.
c.
d.
31.
TYPE:
TYPE:
Two South Korean firms enter into a joint venture in an attempt to increase their market share of the U.S. consumer-electronics market.
American Products, Inc., a U.S. firm, files a suit against the joint venture, alleging that it violates U.S. antitrust laws. Assuming that the
joint venture is not a per se violation of those laws, a U.S. court
could exercise jurisdiction over the firms
a.
b.
c.
d.
if the agreement has a substantial effect on U.S. commerce.

if the agreement has any effect on U.S. commerce.
under any circumstances.
under no circumstances.
117
ANSWER: A
PAGE:
225
TYPE:
118
33.
Real World Sports Corporation (RWSC) is a U.S. firm with a workplace

in Switzerland. Generally, RWSC must abide by U.S. antidiscrimination laws in Switzerland
a.
b.
c.
d.
under any circumstances.

under no circumstances.
unless to do so would contravene the cultural norms of
Switzerland.
unless to do so would violate the law of Switzerland.
ANSWER: D
PAGE:
225
34.
Fabiola, or any foreign citizen, can bring a civil suit in a U.S. court for
a.
b.
c.
d.
a violation of a treaty of the United States only.

a violation of a treaty of the United States or of the law of
nations.
a violation of the law of nations only.
no purpose.
ANSWER: B
NAT: AACSB Analytic
35.
TYPE:
PAGE:
226
AICPA Legal
TYPE:
Aung-San and other Burmese citizens allege that Railway

Construction Company, a U.S. firm, collaborated with the
government of Myanmar (Burma) in committing human rights
violations within that country. To seek redress for their injuries in a
U.S. court, these citizens can
a.
b.
c.
d.
blow the whistle under the Sarbanes-Oxley Act.

bring civil suits under the Alien Tort Claims Act.
file criminal complaints under Title VII of the Civil Rights Act.
do nothing.
ANSWER: B
PAGE:
226
TYPE:
ESSAY QUESTIONS
1.
Standard International Diversified Corporation (SIDC) owns assets in

Tagistan, a new country in Asia. The government of Tagistan wants to
119
nationalize all assets owned by foreign firms and investors. What can
SIDC do? Can it at least obtain payment for the assets?
ANSWER: If a government decides to seize property within its borders, and not to pay for it, there are few remedies available. This is
of course a confiscation, which results when a government takes
private property for an illegal purpose without paying just
compensation. (An expropriation, by contrast, occurs when a
government seizes private assets or a private business for a legal
purpose and pays for the seizure.) Under most circumstances, it is
unlikely that a confiscating nations courts would order its
government to pay just compensation, even if the court had the
authority to do so. In a case alleging that a foreign government has
wrongfully taken a business firms property, the defendant
government has the burden to prove that the taking was an
expropriation, not a confiscation. But the act of state doctrine can
prevent a firms recovery in a court in the firms home country.
Under that doctrine, a court in one country will not review the
validity of a public act of a recognized foreign government within it
own territory. (Some nations guarantee compensation to foreign
investors in their constitutions, statutes, or treaties. Others (such as
the United States) provide some insurance for their citizens
investments abroad. Claims are often resolved by lump-sum
settlements after negotiations, as between the United States and the
confiscating nation.)
PAGES:
210211
TYPE: N
NAT: AACSB Reflective AICPA Decision Modeling
2.
Savory Cooking Sauces, Inc., a U.S. business firm, makes and sells
distinctively flavored cooking sauces. Although the recipes are
secret, the ingredients could be revealed and the sauces could be
reconstructed with diligent efforts. What can Savory do to prevent its
products from being decoded and pirated abroad?
ANSWER: One possibility is that Savory Cooking Sauces, or any
U.S. firm, or any domestic firm in any nation, can license its recipe,
formula, product, or process to a foreign company to avoid the theft
of the trade secret. The foreign firm would obtain the right to make
and sell the product according to the recipe (or formula, or right to
use the process, or other trade secret) and agree to keep the
information confidential and to pay royalties to the licensing firm.
The royalties might be based on so many cents per unit made or a
120
percentage of profits from units sold in a particular geographic

territory. Licensing can benefit both parties to the deal. A firm that
receives the license can take advantage of an established
reputation. The firm that grants the license can receive income from
the sale of the license or the sales of its products and may enhance
its reputation through this marketing. Once a firms products are
more widely known globally, the firm may experience an increased
demand for other products that it makes or sells.
PAGES:
212213
TYPE: +
NAT: AACSB Reflective AICPA Decision Modeling

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97

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

An international custom is a general practice accepted in the

In a civil law system, the only official source of law is a statutory

A treaty is a contract or other agreement between two or more

Common law and civil law systems are wholly distinct.

UNIT ONE: THE FOUNDATIONS

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

In a common law system, the courts independently develop the rules

Under the principle of comity, a foreign business that deals with a

The principle of comity is based primarily on international treaties.

Confiscation occurs when a government seizes private property for a

UNIT ONE: THE FOUNDATIONS

A foreign state is immune from the jurisdiction of U.S. courts unless

Congress cannot impose any restrictions on exports except taxes.

Restrictions on exports may include tariffs.

Franchising is a form of licensing.

A party to a licensing agreement generally agrees to pay royalties on

A party to a licensing agreement agrees to keep certain information

Dumping is the exporting of environmentally polluting goods to a

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

NAT: AACSB Analytic

Antidumping duties are

UNIT ONE: THE FOUNDATIONS

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

Tariffs are taxes on imports.

Force majeure clauses in international business contracts commonly

When a forum-selection clause is included in an international

The primary aim of the North American Free Trade Agreement is to

Under a letter of credit, the issuer is bound to pay the beneficiary

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

The whistleblower provisions of the Sarbanes-Oxley Act of 2002 have

UNIT ONE: THE FOUNDATIONS

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

U.S. laws that prohibit discrimination in employment do not apply to

Any conspiracy that has a substantial effect on U.S. commerce is

The government of the United States and the governments of other

no court or international organization.

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

approve the European Unions enforcement of the law.

The Association of Southeast Asian Nations is a regional trade

The government of Iran violates an international law. Persuasive

Yokio, Ltd., and Zeno, S.A., transact an international sale of goods.

UNIT ONE: THE FOUNDATIONS

if Article 2 of the Uniform Commercial Code does not apply.

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

are obligated to follow the doctrine of stare decisis.

Call Center Corporation, a U.S. firm, owns property in India. The

Michael, a citizen of Ireland, and Nina, a citizen of the United States,

Mountain Mining Company, a U.S. firm, owns property in Bolivia. The

UNIT ONE: THE FOUNDATIONS

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

act of state doctrine.

WiFi Corporation, a U.S. firm, signs a contract with Bueno

UniOil, a U.S. firm, owns property in Venezuela. When the

Optima Medico Corporation, a U.S. firm, signs a contract with Pharma

UNIT ONE: THE FOUNDATIONS

CHAPTER 7: INTERNATIONAL LAW IN A GLOBAL ECONOMY

Innovative Manufacturing Company, a U.S. firm, signs a contract with