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What is the meaning of "Measuring damages for breach of the documentary sale" in international trade?

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter3: Exploring Global Business

Section: Chapter Questions

Problem 4CC

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Question

What is the meaning of "Measuring damages for breach of the documentary sale" in international trade?

Expert Solution

Step 1

The operations of a business organization are confined to the rules and regulations that have been proposed by the government. The government of each market has implemented laws, policies, and regulations that ensure honest and healthy business operations in the market.

Contracts are such legal documents that the business parties enter into so as to ensure a moral and credible business operation. The parties that breach these contracts will have to face legal implications.

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