Which Statement Is Correct Regarding Similarities Between American and European

question 20

Multiple Choice

Which statement is correct regarding similarities between American and European contract law?

• A)U)S.law finds guidance in the Restatements of the Law constituting soft law,not statutory enactments;and Europe has begun crafting its own version of the U.S.Restatement of Contracts.
• B)U)S.law finds guidance in the Restatements of the Law constituting soft law,not statutory enactments,but Europe has refused to consider crafting its own version of the U.S.Restatement of Contracts.
• C)U)S.law finds guidance in the Restatements of the Law constituting soft law,not statutory enactments;and Europe has disavowed the CISG choosing to follow a code similar to the U.S.Restatements of the Law.
• D)U)S.law is provided guidance through the UCC,a federal statutory enactment,but European law relies entirely on the CISG.
• E)U)S.law is provided guidance through statutory enactments known as the Restatements of the Law,but European law relies entirely on the CISG.

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Definitions:

Negative Returns

A situation in which an increase in the amount of inputs used leads to a decrease in the level of output, often seen in cases of over-investment or inefficient production processes.

Worker

An individual who performs tasks or services for compensation; an employee.

Variable Cost

Costs that change in proportion to the activity or volume of output in production, such as raw materials and direct labor costs.

Fixed Cost

Costs that do not vary with the level of output or sales, such as rent, salaries, and insurance.