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A U.S. automotive company purchases brake linings from a firm in Germany and promises to pay in euros in 30 days. Before the payment is made, the euro depreciates relative to the dollar. The U.S. firm:
Court
A governmental institution authorized to resolve legal disputes and administer justice in civil, criminal, and administrative matters.
Jurisdiction
The legal power or authority given to a court or other legal body to hear and decide cases.
Federal Courts
Courts established by the federal government of a country, having jurisdiction over questions of federal law and involving interstate matters or parties.
Federal Law
Legislation enacted by the national government or Congress that applies to the entire country.
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