As Markets Globalize and an Increasing Proportion of Business Activity

question 34

True/False

As markets globalize and an increasing proportion of business activity transcends national borders,there is a need for institutions to help manage,regulate and police the global market place.

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Definitions:

Ratifying the Contract

The act of formally confirming or approving an agreement to make it officially valid.

After Reaching Majority

A legal status attained when an individual has reached the age of majority, which is considered the threshold of adulthood and conveys full legal rights and responsibilities.

Mind-Altering Drug

A substance that changes mental processes such as cognition, mood, or consciousness.

Disaffirm Contract

The legal act of renouncing or rejecting a contract, releasing the parties from their obligations under that contract.