Over the course of about six years, Hanwha Corp., a Korean company, entered into 20 separate contracts to purchase petrochemicals from Cedar Petrochemicals, Inc. While negotiating for the twenty-first contract, Hanwha sent a bid, Cedar accepted it and included a provision for NY law to govern. Hanwha crossed out the reference to NY law, stated that Singapore law would apply and also stated that no contract would “enter into force” unless Cedar countersigned Hanwha’s proposed version of the contract documents. Cedar refused to accept Hanwha’s terms and e-mailed Hanwha saying that the contract would be finalized only if Hanwha accepted Cedar’s original terms and asking Hanwha to sign the original version of the contract documents. Hanwha started arranging for financing, but Cedar said there was no contract unless Hanwha signed the original terms. Hanwha sued for breach of contract. Which law applies: Korean, New York, Singaporean, or CISG? Do you think the parties did form a contract? From this scenario, what lessons can you learn about good business practices?