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Paralegal Exam Prep

Category - Legal Envrmt

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A contract under which one company agrees to design, construct, and equip a manufacturing facility and then sell it to the foreign purchaser when it is ready for operation is known as:
  1. A distribution agreement
  2. An international trade agreement
  3. An international turnkey project
  4. A direct export agreement
  5. An indirect import agreement
Explanation
Answer: C. A contract under which one company agrees to design, construct, and equip a manufacturing facility and then sell it to the foreign purchaser when it is ready for operation is known as an international turnkey project. A turnkey project is a way for a company to establish a presence in an international market. The concept is also used domestically.
Category: Legal Environment
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