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JeopardyInternational Legal Environment
Donna M. Kesot, CPCU©April 3, 2012 edition
100 100 100 100
Legal Systems
Business Factors
US LawsInternational Law
400400400
300 300 300
200 200 200200
300
400
C1 100 Question
Most countries fall into one of these two legal systems
C1 100 Answer
What is civil-law system and common-law system?
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C1 200 Question
Civil-law systems developed within these three subsystems
C1 200 Answer
What are Roman (and French) Law German Law, and Scandinavian (Nordic) Law?
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C1 300 Question
Although Asian countries use forms of of common-law and civil law systems, East Asian Law relies upon this cultural custom
C1 300 Answer
What is a tradition of informal compromise?
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C1 400 Question
The Shari’ah consists of these two primary sources of Islamic law from all legal principals derive
C1 400 Answer
What are Qur’an and the Sunnah?
The Quar’an bestows authority to make law and render interpretations
The Sunnah mandates conduct
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C2 100 Question
A treaty is an example of this type of law
C2 100 Answer
What is Public International Law?
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C2 200 Question
In any international dispute, these factors must be considered
C2 200 Answer What is public and private international
law?
Rank order is to first use Public International Law (treaties). If there is no treaty governing the situation, then Private International Law is used based on laws in the countries involved
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C2 300 Question
These two factors are considered when applying Private International Law to disputes
C2 300 Answer
What is:1. Whether a court in one country will
recognize the decision of another country’s court?
2. Whether a court has the right to hear the legal dispute?
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C2 400 Question
These prominent international organizations and agreements affect practically all international business (name 5)
C2 400 Answer
What are the: United Nations (UN) World Trade Organization (WTO) North American Free Trade Agreement (NATO) European Union (EU) Association of Southeast Asian Nations (ASEAN) Asia-Pacific Economic Cooperative (APEC)?
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C3 100 Question
Currency based on a fixed rate of return
C3 100 Answer
What is pegged currency?
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C3 200 Question
Valuations are linked to this in international markets
C3 200 Answer
What is global exchange rates?
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C3 300 Question
The taking of property from a company is called this
C3 300 Answer
What is expropriation
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C3 400 Question
This accounting method can be used in the U.S. or international markets
C3 400 Answer
What is GAAP?
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C4 100 Question
This U.S. law increased surveillance and investigative powers of U.S. law
C4 100 Answer
What is the Patriot Act?
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C4 200 Question
Government by elected representative
C4 200 Answer
What is democratic rule?
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C4 300 Question
This entity established standards of financial accounting and reporting in the U.S.
C4 300 Answer
What is the Financial Accounting Standards Board (FASB)?
Current handbook
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C4 400 Question
Prohibits bribes
C4 400 Answer
What is the Foreign Corrupt Practices Act?
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