True/False 1. Most countries have national laws that prohibit the payment of bri
ID: 393385 • Letter: T
Question
True/False
1. Most countries have national laws that prohibit the payment of bribes to government officials.
2. The WTO has established general principles of fair trade, including principles of non-discrimination, transparency, and access to markets of WTO member countries.
3.The doctrine of comparative advantage presumes that all nations, whether large or small industrialized or least-developed, can potentially benefit from international trade by producing and exporting goods and/or services in which they have particular comparative advantages over other nations in such production.
4. A joint venture may take the form of a partnership for a limited purpose or limited duration (or both), and it may also use the corporate form.
5. A foreign corporation doing business in the United States through a branch office is liable for the debts incurred by that branch office.
6. Establishing a foreign representative office usually requires a deeper business and legal involvement in a foreign country than establishing a foreign-owned factory.
7. Under U.S. common law a franchisor can always legally terminate the franchise agreement of an American or foreign franchisee at will, even over a franchisee’s objection.
8. Courtroom litigation is the most common method for international dispute resolution, both in the U.S. and worldwide.
9. A forum selection clause in a contract determines the type of ADR available to parties in an international dispute.
10. A choice of law clause in a contract determines which country’s laws shall be applied if an international contractual dispute arises.
Explanation / Answer
1. Most countries have national laws that prohibit the payment of bribes to government officials.
True
2. The WTO has established general principles of fair trade, including principles of non-discrimination, transparency, and access to markets of WTO member countries.
True
3.The doctrine of comparative advantage presumes that all nations, whether large or small industrialized or least-developed, can potentially benefit from international trade by producing and exporting goods and/or services in which they have particular comparative advantages over other nations in such production.
False
4. A joint venture may take the form of a partnership for a limited purpose or limited duration (or both), and it may also use the corporate form.
True
5. A foreign corporation doing business in the United States through a branch office is liable for the debts incurred by that branch office.
Explanation- Any company operating in united States when a branch office is a representation of international trade facility, providing support to the main organisational structure for operating United States which makes it responsible for all the debt taken by the specific branch.
True
6. Establishing a foreign representative office usually requires a deeper business and legal involvement in a foreign country than establishing a foreign-owned factory.
False
7. Under U.S. common law a franchisor can always legally terminate the franchise agreement of an American or foreign franchisee at will, even over a franchisee’s objection.
False
8. Courtroom litigation is the most common method for international dispute resolution, both in the U.S. and worldwide.
True
9. A forum selection clause in a contract determines the type of ADR available to parties in an international dispute.
False
10. A choice of law clause in a contract determines which country’s laws shall be applied if an international contractual dispute arises.
True
P.S.- Please leave a comment if any explanation is needed.
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