what is international business

Question 1

define business law

Answer 1

enforceable rules of conduct that govern commercial relationships

Question 2

why is it important to know business laws

Answer 2

1. no transaction can be done if it occurs outside of legal guidelines
2. all contracts and employment decisions are protected by business laws

Question 3

in order to do international business, we need to be aware of?

Answer 3

1. constitutions
2. legislations
3. regulatory bodies
4. court decisions related to market

Question 4

define constitutions

Answer 4

each country’s foundational legal framework affecting businesses

Question 5

define legislations

Answer 5

specific laws like export restrictions and labor laws

Question 6

define court decisions

Answer 6

precedents from past cases that guide future rulings