In a contract between Samsung and Best Buy for the purchase of 5,000 television sets, it stated that the laws of Korea would apply if there are any legal disputes. This is an example of a
A)governing law clause
B)venue clause
C)arbitration clause
D)an entire agreement clause
E)liquidated damages clause

Question

Quizplus · Accepted Answer

A governing law clause specifies which jurisdiction's laws will be applied in interpreting and enforcing the contract.

In a Contract Between Samsung and Best Buy for the Purchase