Courtroom judgments in international disputes

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Reference no: EM132219379

True/False

1. A choice of law clause in a contract determines which country’s laws shall be applied if an international contractual dispute arises.

2. Arbitral awards are often more easily enforced than courtroom judgments in international disputes.

3.American courts will usually void forum selection clauses as a usurpation – or unlawful seizing – of the court’s jurisdiction and judicial power.

4. The doctrine of forum non conveniens holds that a U.S. court should find inadequate an alternative forum if that alternative forum does not provide the same and identical legal remedies as a U.S. court.

5. GATT has led to the significant lowering of average tariff rates in industrial countries.

6. The WTO agreement on trade in services is known by the acronym TRIPS.

7. Dumping is when a government grants a domestic industry some benefit in violation of the national treatment principle.

8. Charging import duties is a violation of the national treatment principle of GATT.

9. The original long-term goal of NAFTA was to eliminate within 15 years all tariffs on goods trade between Canada, Mexico and the United States.

10. Internationally imported goods must usually have a country of origin marking and certification.

Three important U.S. trade promoting agencies are Department of the Treasury, Department of Commerce, and the Court of International Trade (which is a special jurisdiction federal trial court based in New York City).

Reference no: EM132219379

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