With regard to international business transactions,which of the following statements is true?

Question

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There is no international court that deals with private disputes between businesses. Instead, businesses must rely on national courts or alternative dispute resolution methods such as arbitration. While there are some international laws that apply to certain types of transactions, there is no single set of laws that applies to all international transactions. The World Trade Organization (WTO) primarily focuses on trade disputes between countries, rather than private business disputes. The General Agreement on Tariffs and Trade (GATT) was replaced by the WTO in 1995 and primarily deals with reducing trade barriers, rather than resolving private disputes.

With Regard to International Business Transactions,which of the Following Statements