Asked by Bethany Allen on May 09, 2024
Verified
Due to increasing globalization, the International Commercial Code is important to contract law.
Globalization
The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increased interconnectedness of the world's economies, cultures, and populations.
- Understand the role of global influences, like the International Commercial Code, on contract law and its importance for international transactions.
Verified Answer
RM
Roger MikhailMay 10, 2024
Final Answer :
False
Explanation :
The correct term is the "United Nations Convention on Contracts for the International Sale of Goods" (CISG), not the "International Commercial Code," which does not exist. The CISG is important for international contract law.
Learning Objectives
- Understand the role of global influences, like the International Commercial Code, on contract law and its importance for international transactions.