Which of the following statement is(are)true?
A)Most countries have laws and court procedures protecting intellectual property such as those in the United States.
B)Civil laws tend to be relatively nonspecific.
C)Laws of a country regulate the manner in which business transactions are executed.
D)Global entrepreneurs cannot specify in the contract that any contract disputes will be heard in the courts of another country.

Question

Quizplus · Accepted Answer

Laws of a country regulate the manner in which business transactions are executed. This statement is true as laws and regulations of a country govern all aspects of business operations including contracts, intellectual property protection, labor laws, and taxes.

Answer: A
 Most countries have laws and court procedures protecting intellectual property such as those in the United States. This statement is true as intellectual property protection is becoming increasingly important in the global marketplace due to the rise of piracy and counterfeiting. Therefore, most countries have established legal frameworks to protect the rights of intellectual property owners.

Answer: B
 Civil laws tend to be relatively nonspecific. This statement is false as civil laws are generally more specific than common laws, as they are codified in a written legal code. Civil laws provide much more detailed guidance to judges and lawyers when interpreting and applying the law than common laws do.

Answer: D
 Global entrepreneurs can specify in the contract that any contract disputes will be heard in the courts of another country. This statement is true as businesses can choose to include an arbitration or choice of law clause in their contracts, which would allow them to choose the jurisdiction and the law that would apply to any contractual disputes that may arise.

Which of the Following Statement Is(are)true