Incoterms rules are
A)a series of three-letter codes used in international contracts for the sales of goods.
B)trade agreements promoting common policies among member states.
C)a series of laws designed to make international contracts more uniform and predictable.
D)rules outlining when the power of one nation can impose its laws in other countries.
Question 2
The International Court of Justice (ICJ) has not been an important force in resolving international business disputes. In fact, in its seven-decade history, the ICJ has heard fewer than 200 cases. Which of the following statements regarding the ICJ is NOT true?
A)Only states can be a party to litigation before the ICJ.
B)The ICJ only has jurisdiction over states that have agreed to be bound by its decisions.
C)The ICJ has no enforcement power.
D)The U.S. has agreed to abide by ICJ jurisdiction in all cases.
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