Question

Which of the following is a source of law that has become more important with increasing globalization?

Question 1 options:

	1) The International Contracts Code
	2) The International Commercial Code
	3) The Uniform Contracts Code
	4) The Convention on Contracts for the International Sale of Goods
	5) The Convention for the Global Standardization of Commercial Trade and Contract Law

Answer 1

Ans.- (4)

The Convention on Contracts for the International Sale of Goods establishes a uniform framework for international commerce. Its aim is to provide a modern,uniform and fair regime for the international sale of goods contract.

Answer 2

The correct answer is 4) The Convention on Contracts for the International Sale of Goods.

The Convention on Contracts for the International Sale of Goods (CISG) is a source of law that has become more important with increasing globalization. The CISG is an international treaty that establishes a uniform set of rules for contracts for the sale of goods between parties from different countries. It provides a standardized framework for international commercial transactions and helps facilitate international trade by promoting uniformity and predictability in the interpretation and enforcement of contracts.

The other options mentioned in the question, such as the International Contracts Code, the International Commercial Code, the Uniform Contracts Code, and the Convention for the Global Standardization of Commercial Trade and Contract Law, are not recognized as specific sources of law that have gained significant importance with increasing globalization.