International Business Law A Transactional Approach 2nd Edition By Larry A. – Test Bank
RISKS OF INTERNATIONAL BUSINESS TRANSACTIONS
1. Globalization in trade is likely to be accelerated through increased regionalization.
2. Direct foreign investment measures the degree of trade in goods between two nations.
3. Private individuals may use the International Court of Justice to settle commercial disputes.
4. Under U.S. law, treaties are not binding on state and local governments.
5. Lex Mercotoria refers to the process by which day-to-day practices become codified into international customary law.
6. International harmonization in the area of contract law will have the effect of increasing costs in international contract formation.
7. The United Nations Convention on Contracts for the International Sale of Goods (CISG) requires a written document as proof that a contract has been formed.
8. An Export Trading Company (ETC) is a type of Export Management Company (EMC) that takes title to a product.
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