Bob Is a Merchant in New York and Betty Is

question 69

Multiple Choice

Bob is a merchant in New York and Betty is a merchant in California.Bob wants to do business with Betty but he is concerned that if a lawsuit should result from their transaction,he might have to travel to California and hire a California lawyer to litigate the dispute.What type of clause should Bob try to include in his contract with Betty that will probably assure him that if litigation ensues,it will take place in New York?

• A)Confession of judgment clause
• B)Forum selection clause
• C)Choice of law clause
• D)Substantive clause

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Definitions:

Real Exchange Rate

The pace at which one country's currency can be swapped for that of another, after accounting for inflation.

Nominal Exchange Rate

The rate at which one currency can be exchanged for another currency, not adjusted for inflationary differences between the two currency areas.

British Pounds

The official currency of the United Kingdom, also known as GBP (Great British Pound).

Real Exchange Rate

The rate at which one country's currency can be traded for another country's currency, adjusted for inflation.