Petro Refining Corporation Makes Payments to Potential Customers,suppliers,and Others with Whom

question 29

Multiple Choice

Petro Refining Corporation makes payments to potential customers,suppliers,and others with whom they might do business,including foreign private companies and the representatives of foreign labor organizations.If Petro knows that these payments will be passed on to a foreign government,this practice is

• A)illegal if the payments violate the Foreign Corrupt Practices Act.
• B)legal if a third party acts as a "go-between."
• C)legal if private parties are involved on both sides of the deal.
• D)legal if the payments are intended to facilitate business.

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Definitions:

Consideration

An essential element in contract law, referring to something of value exchanged between parties as part of entering into a contract.

Beneficiary Modification

Changes made to the designated recipient of benefits or entitlements under a legal instrument such as a will or insurance policy.

Gifts

Voluntary transfers of property or funds from one person to another without any expectation of payment or compensation.

Fraud

Intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.