Under Chapters 19 and 20 of NAFTA,in the Event of a Dispute,the

question 1

True/False

Under Chapters 19 and 20 of NAFTA,in the event of a dispute,the Extraordinary Challenge Committee is the first body before which an arbitration is heard.

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Definitions:

Dishonored

A term referring to a financial instrument, such as a check, that has been presented for payment but refused by the bank or payer.

Commercially Reasonable

Actions that a prudent individual or entity would take in a commercial context, considering the circumstances reasonably expected in such a situation.

Notice Of Dishonor

A formal notification that a negotiable instrument, such as a check or draft, has been presented for payment and has been dishonored due to insufficient funds or other reasons.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, including sales, negotiable instruments, and secured transactions.