In a Contract Between Samsung and Best Buy for the Purchase

question 46

Multiple Choice

In a contract between Samsung and Best Buy for the purchase of 5,000 television sets, it stated that the laws of Korea would apply if there are any legal disputes. This is an example of a

• A)governing law clause
• B)venue clause
• C)arbitration clause
• D)an entire agreement clause
• E)liquidated damages clause

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Definitions:

Basic Money Supply

The total amount of liquid money available in the economy, including cash and easily accessible deposits.

M1

A category of the money supply that includes physical currency and coin, demand deposits, traveler's checks, and other liquid assets accessible for immediate spending.

Financial Intermediaries

Institutions that facilitate the channeling of funds between lenders and borrowers by accepting funds from lenders and loaning funds to borrowers.

Insurance Premiums

Payments made by individuals or businesses to insurance companies to cover the cost of insurance policies.