True/False 1. The four types of international business transactions are importin

Question

True/False

1. The four types of international business transactions are importing, exporting, trade in services, and countertrade.

2. Trade in goods and foreign direct investments are good indicators of trends in globalization.  

3. There are no United Nations agencies that are active in issues pertaining to international business transactions.

4. Copyrights, patents, and real estate contracts are all forms of intellectual property.

5. Domestic but not multinational businesses must confront ethical issues.

6. The Union Carbide at Bhopal disaster occurred in the Inland Empire.

7. Jeremy Bentham is considered “the father of international law.”

8. The pacta sunt servanda concept is based on the idea that employees are servants and are thereby obligated to give their greatest allegiance to their employers and home countries.

9. An American company can violate the Foreign Corrupt Practices Act without committing a crime or act of bribery punishable under American law.

10. Bribery and corruption frequently occur in international business transactions but are not illegal unless millions of dollars of side payments occur.

Explanation / Answer

False: International Sales Contracts. International Distribution Agreements. Supply Agreements. Intellectual Property Licenses. Franchise Agreements. Development Agreements. Investment Agreements. Letters of Credit. True: False- IMF does that False- Real estate contracts are not IP True - Everybody should confront ethical issues. False False- Hugo Grotius False- It says agreements must be kept False- No company can False- even 1 dollar bribe is a crime, if caught

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