Question

Frank, the CEO of an American production company, negotiated an opportunity with a television provider in India. After the negotiation, Frank prepared a contract for both parties to sign in order to bind the deal. Knowing that Frank is from the United States, how would the contract most likely be described?

Answer 1

Answer:

The contract would be described as International Contract.

Explanation:

International Contracts: International contracts refers to a legally binding agreement between parties based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way such as the example of Frank contracting an Indian television provider.

Consequently, Frank and the Indian television provider having entered into a contract, are governed by international contract law unless they agree to abide by the laws of one of the US and India.

Moreover, International sales contracts are governed by the United Nations Convention on Contracts for the International Sale of Goods (CISG) from 1980.

Answer 2

Answer:

A contact between Frank, the CEO of an American production company and a television provider in India is called International Contract.

Explanation:

For business to thrive across countries and continents, there is a legislation set in place that will guide, regulate and protect the proceedings called International Business Law.

International Business law is the scope and practice of law in the global business market. It is typically related to trade or commerce that takes place between two nations or two companies that operate in separate countries.

One of the provisions in International business law is the International contract binding the two or more parties involved in international trade or business.

International contracts refers to a legally binding agreement between parties, based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way.