Legal and economic aspects of violations of international agreements on the sale of goods and services

Abstract

Sales have achieved huge dimensions worldwide under the current business environment brought about by the processes of globalization, deregulation, and liberalization. Sales contracts are crucial in today's global trade because of these factors. The spectrum of commodities that are the subject of commercial transactions and, by extension, agreements has greatly expanded as a result of the growth of industry, the economy, and multinational and transnational corporations. Sales contracts have distinct collision standards, quandaries, and treatments in addition to their consequences on the economy and law. Given the importance of pricing in all economic domains and the vast scope of international trade, sales contracts hold great relevance in today's international commerce. The range of goods subject to commercial transactions has expanded significantly with the growth of industry, the economy, and multinational and transnational corporations. The sales contract has implications for the economy and law, and its fundamental components have been treated differently in legal science. The growth and development of all company activities have been facilitated by the existence of international legal regulation.