Which of the Following Is True of the Council for Trade

question 38

Multiple Choice

Which of the following is true of the Council for Trade in Services?

• A) It is meant to function within the framework of the WTO.
• B) It is an independent body with no direct affiliation with any other international trade organizations.
• C) It develops the sectoral annexes that deal with issues unique to particular economic sectors.
• D) It lays out general obligations and disciplines of member states of IMF.

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Definitions:

Uniform Electronic Transactions Act

A law adopted by many states in the U.S., which gives legal validity to electronic signatures and records in commercial transactions.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed to be enforceable.

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous negotiations to alter or contradict the terms of a written agreement.

Condition Precedent

refers to a condition or event that must occur before a contract becomes effective or before a party is obligated to perform their contractual duties.