Instructions: Explain/Define the Following Terms

question 57

Short Answer

Instructions: Explain/Define the following terms.
maroon

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Definitions:

Confiscated

Property that has been taken away from its owner by a governmental authority as a penalty or for regulatory reasons.

Transactional Risks

The potential for financial loss that a company faces when engaging in business transactions, especially in foreign markets.

Customary Law

Laws derived from experience, practice, collective wisdom, and shared philosophy to set the boundaries and rights that define relationships between community members.

Statutory Code

A formal legal code enacted by a legislature, providing a systematic collection of laws, regulations, or rules in a specific area.