It is important that the take-or-pay buyer does not violate the contract or is in default if he does not name or accept the TOP quantity of the year in question. Often, a buyer has the right to offer zero deliveries in a year, and this would not be a violation or omission. Instead, the difference between the quantity…
The value of free trade was first observed and documented in 1776 by Adam Smith in The Wealth of Nations, who wrote:[77] Poor countries that pursued free trade policies, however, experienced strong economic growth, with China and India as prime examples. Free trade allows companies in rich countries to invest directly in poor countries, share knowledge, provide capital and…