Prohibit the payment of bribes to government officials

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Reference no: EM132219377

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.

Reference no: EM132219377

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