Stacy,located in Florida,is Entering into a Contract with Natasha,located in Russia,for

question 33

Multiple Choice

Stacy,located in Florida,is entering into a contract with Natasha,located in Russia,for the purchase of snow globes to sell to people who do not typically get to see snow.Stacy is familiar with the Uniform Commercial Code,but she is uneasy about what law would apply if she has a dispute with Natasha regarding the contract.She would like for Florida law to apply.Which of the following is the best advice to Stacy?

• A)Stacy should attempt to have a contract clause inserted providing that the law of Florida would govern any dispute.
• B)While a requirement that Florida law would govern the dispute would likely be deemed unconscionable,Stacy should attempt to have a contract clause inserted providing that international law would govern any dispute.
• C)There is nothing that Stacy can do because Russian law,the law of the seller,would govern any dispute.
• D)Stacy does not need to do anything because as a matter of law,Florida law,the law of the buyer in this case,would govern any dispute.
• E)It depends on the value of the contract.If it is for $1,000 or more,Stacy should attempt to secure a provision in the contract that Florida law governs; otherwise,she has no option but to allow a court to later determine the conflict-of-law issue.

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Definitions:

Remuneration Expense

This refers to the total cost incurred by a business for paying salaries, wages, and other forms of compensation to its employees.

Vesting Period

The time period during which an employee earns rights to employer-contributed benefits, such as retirement fund contributions or stock options.

Share Options

Rights given by a company to its employees or directors to buy shares at a fixed price, usually after a specified period.