Which statement about private international law is accurate?

Private international law, also known as conflict of laws, is primarily concerned with resolving legal disputes between private parties that cross international boundaries. This area of law enables businesses and individuals to determine which jurisdiction's law applies to their international agreements and disputes.

The accurate statement is that private international law applies to businesses and individuals because it encompasses legal issues that arise when private entities such as companies, organizations, and individuals engage in activities that involve multiple legal systems. For example, if a company in one country enters into a contract with a company in another country, private international law helps to establish which country's laws will govern the contract, how disputes will be resolved, and where those disputes can be litigated.

This aspect of private international law is vital for facilitating international business transactions and ensuring that private parties can engage in cross-border commerce with some level of legal certainty and predictability. The other statements misrepresent the scope and application of private international law by either limiting it to governmental entities, domestic disputes, or suggesting it has no bearing on international business, all of which do not reflect its true role and importance.