Legal Forces

What is the basis of the legal system in Iran, Saudi Arabia, Libya, and Morocco?

• Civil law

• Common law

• Religious law

What are the three distinct approaches found in legal systems?

• Civil law, common law, religious law

• Constitution, legislation, regulations

• Judges, statutes, precedents

Which legal system relies on decisions made by judges in previous cases?

• Civil law

• Common law

• Religious law

What is the foundation of the civil law approach?

• Codification

• Precedents

• Judicial decisions

Why do contracts include both a choice-of-law clause and a choice-of-forum clause?

• To specify which law will govern any dispute and where the dispute will be settled

• To standardize some aspects of intellectual property rights

• To protect patents, trademarks, trade names, copyrights, and trade secrets

An agreement between nations is called a

• treaty

• constitution

• demographic

• regulation

The most important sources of international law are

• the UN international court of justice.

• the US Supreme Court and the EU Court of Justice

• bilateral and multilateral treaties, along with customary law

• common and civil law

Nora knew her package had arrived because she saw the truck with the Amazon logo pull into her driveway. The logo she recognized is an example of a

• patent

• trademark

• tradename

• copyright

Arbitration is often preferred when the contract stipulates U.S. law and one of the litigants is foreign because it is

• easier to influence an arbiter than a judge.

• quicker, cheaper, and more private than litigation.

• more discreet, although more costly than litigation.

• a country's court decisions are easier to enforce on a non-resident.

In Sharia law, interest is forbidden, which results in

• severe limitations on working capital.

• equity partnerships, where business risk is shared.

• interest that is usually paid but termed something else.

• its adoption in international businesses.