Question

In global markets, there is not a central system of law.
True or False

Answer 1

false

Step-by-step explanation:

The answer is false. The central system of law refers to the application of common rule while doing international business. The central system of law does not exist; instead, various laws come into play in different places. The differences in the system of law are influenced by political/legal aspects of the countries that participate in trade in a given locality. Hence the laws used only apply among the countries doing trade, and the global law only exists to some extent. The purpose of using various systems of laws is to create a conducive environment for trade with favorable specifications among the countries.

Answer 2

Answer: True

Explanation: In global markets, no central system of law exists, so it depends on what laws apply to your region. This makes this statement true because there is not a "uniform" law that applies all over the globe, this is because many economies and governments are different from one another. This applies to countries like China and the US. China and the US have vastly different forms of government, and their business is notably different. I hope this helped.