Because Ethical Issues Vary from Country to Country, International Business

question 41

True/False

Because ethical issues vary from country to country, international business persons should not take ethical considerations into account in the decision-making process.

Recognize the significance and application of liquidated and consequential damages in contract breaches.

Grasp the concepts of impossibility of performance and warranties under the Uniform Commercial Code (UCC).

Differentiate between UCC governance and common law principles in contracts.

Identify the remedies available to sellers for breach of sales contracts.

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Definitions:

Genital Stage

The final stage in Freud's theory of psychosexual development, beginning in puberty, where sexual energy is focused on the genitals.

Freud

Sigmund Freud, Austrian neurologist and the founding father of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Direct Selling

A type of sales where products are marketed directly to consumers, bypassing traditional retail environments.

Nonstore Retailing

The selling of goods and services outside the traditional brick-and-mortar retail environment, such as through e-commerce, direct mail, or telemarketing.