JeopardyInternational Legal Environment

Donna M. Kesot, CPCU©April 3, 2012 edition

100 100 100 100

Legal Systems

Business Factors

US LawsInternational Law

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300 300 300

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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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