The Term Global Commons Refers to

question 85

Multiple Choice

The term global commons refers to

• A) social norms and values that are common across the globe.
• B) a group of nations that share similar ideologies on globalization.
• C) natural resources from which everyone benefits but for which no one is specifically responsible.
• D) common laws to be obeyed by companies involved in international business.
• E) arrangements, like common currencies, between countries to simplify international trading.

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Definitions:

Non-breaching Party

The party in a contractual agreement that has not failed to fulfill any terms of the contract, as opposed to the party that has broken the agreement.

Breach Of Contract

The failure to fulfill the terms of a contract by one or more parties involved in the contract.

Performing

The act of fulfilling a command, duty, or role as required or agreed.

Commercially Impracticable

This term refers to situations where fulfilling a contractual obligation has become excessively burdensome or impossible due to unforeseen events, making performance “commercially impracticable.”