GATS Differs from NAFTA in That GATS _______

question 5

Multiple Choice

GATS differs from NAFTA in that GATS _______.

• A) specifically defines four basic modes of supply
• B) does not allow its members to make their sector list restrictive
• C) does not grant non-members the right to be free from performance requirements
• D) does not deal with services generally, but rather by sectors.

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Definitions:

Good Faith Purchaser

An individual who buys something without knowledge of a prior claim or lien against the property, therefore acquiring clean title.

Risk Of Loss

The potential for an asset to be lost, damaged, or diminished in value, and the question of who bears this risk under the terms of a contract.

Agreement Of Parties

This refers to the mutual understanding and consent between parties involved in a contract regarding the terms and conditions stated.

Voidable Title

A title to goods that is valid until annulled or rescinded due to certain conditions, such as fraud or misrepresentation.