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International Management 9th Edition by Helen Deresky
Edition 9ISBN: 978-9332584730International Management 9th Edition by Helen Deresky
Edition 9ISBN: 978-9332584730 Exercise 2
Discuss the importance of contracts in international management and how contracts are viewed in other countries. What steps must a manager take to ensure a valid and enforceable contract
Explanation
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Contracts by the concerned parties are important in International Management because a contract is a legal agreement which establishes a set of rules to govern a business transaction. The complexities arise in international transactions in view of the differences in the legal systems of participating countries, and the government is the third party in the contract. The legal systems in different countries may not be comparable.
A manager should take the following steps to ensure a valid and enforceable contract
• Consult experts in international law before going overseas.
• Be aware that the legal systems in different countries may be different.
• In addition to taking proper legal assistance, ensure good relationship with business partners. Try to sort out business issues amicably. A legal recourse should be the last option.
A manager should take the following steps to ensure a valid and enforceable contract
• Consult experts in international law before going overseas.
• Be aware that the legal systems in different countries may be different.
• In addition to taking proper legal assistance, ensure good relationship with business partners. Try to sort out business issues amicably. A legal recourse should be the last option.
International Management 9th Edition by Helen Deresky
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