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Running head: ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Addressing International Legal and Ethical Issues Simulation Summary Law 421 August 12, 2013 Jason Johannes

ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Addressing International Legal and Ethical Issues Simulation Summary The law of contract is considered to be an enforceable exchange of promises from all parties involved and has three vital parts to it. This enforceable exchange of promises three parts that are vital include the offer, this is when either party the offeror establishes making the offeree a promise to trade for promises to act or not to act on a matter. The second vital part consists of acceptance between the parties. This would take place on behalf of the offeree entering into an agreement to give the offeror what was requested from the original offer making the last being for both parties to consider what either party brings to the table is subject to negotiation or to be bargained for exchange. The laws of contract that govern international trade can have legal dangers to it, largely because import and export laws are not the same in each country so making sure to know the laws of the country that business is being done in is vital. There are things to make sure to watch for such as the regulations and restrictions that can affect the United States import/export laws or affect the other country that is involved. Making sure to know which laws govern the retention and the termination that includes agents, distributors and all representatives. Make sure that shipping arrangements are clear and detailed with spelling corrections in order to avoid there being any misunderstandings during shipping and lastly, in order to be effective when resolving international disputes check that all contracts that pertain to the subject matter designates in detail how to resolve differences and also where. Taking into account the jurisdiction where the dispute is likely to become resolved will help to avoid an unnecessary situations, for example situations involving real estate properties in China, it would fall under Chinas laws no matter what is stated in the agreement., such as in the case of maybe there be a requirement to have a French arbitrator present in order to decide a dispute under U.S. law.

ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES