Mr.Smith and Sr.Zarza are negotiating an international contract for the sale of wicker furniture.They have agreed that,while they hope there will be no disputes,they want to include terms in the contract that would ensure that any disputes would be resolved favourably with limited time delay and minimal expense.Which of the following set of terms should they include in their contract?

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Quizplus · Accepted Answer

Limited liability and insurance are reasonable terms to include in the contract, but arbitration of disputes is the best option for resolving conflicts quickly and cost-effectively. Mediation is also a possible solution, but it may not be as binding as arbitration. Payment terms are important, but they do not necessarily affect dispute resolution. Therefore, choice E is the best set of terms for Mr.Smith and Sr.Zarza to include in their contract.

MrSmith and Sr