One Way of Dealing with Local Laws and Regulations in Foreign

question 37

Multiple Choice

One way of dealing with local laws and regulations in foreign countries is to hire local _____ to provide advice.

• A)advertising firms
• B)attorneys
• C)politicians
• D)underworld figures

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Definitions:

Vicarious Liability

A legal principle under which a party can be held liable for the wrongful actions of another party, even if the first party did not commit the act themselves.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when managing the other's money or property, often found in trustee-beneficiary relationships.

Duty Of Loyalty

An agent must subordinate his personal concerns by (1) avoiding conflicts of interest with the principal and (2) not disclosing confidential information received from the principal.

Joint And Several

Legal terminology indicating that all parties involved can be collectively or individually responsible for the full amount of liability.