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International Trade

International Trade International trade allows countries to exchange goods and services with the use of money as a medium of exchange. It should aim at a mutual gain for all participating countries. Each country can then focus on specializing in the products that they are best suited to manufacture or produce and import other goods from other trading partners who can supply them at a lower opportunity cost. A product that is sold to the global market is an export, [...]

Torts in Law

A tort in common law is defined as a civil wrong that involves a breach of civil duty owed to someone else. This is in exception to contractual duty. A tort is similar to crime but crimes involve breach of duties toward the society in general. The aggrieved party who has been injured due to a tort may bring a lawsuit. One who commits a tort is called tortfeasor. A person who suffers a tortuous act is entitled to [...]