Increased Uncertainty and Pessimism About the Future of the Economy

question 153

True/False

Increased uncertainty and pessimism about the future of the economy lead firms to desire less investment spending which shifts the aggregate-demand curve to the left.

Differentiate between statutory and equitable assignments in contract law.

Comprehend the privity of contract rule and its exceptions.

Explain the implications of the parol evidence rule in contract interpretation.

Recognize the effect of non est factum in negating contractual obligations.

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Definitions:

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that eliminates most tariffs on trade between them.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty providing a uniform framework for international commerce.

UCC

As a detailed legal framework, the Uniform Commercial Code specializes in overseeing a variety of commercial transactions across the United States.

GATT

The General Agreement on Tariffs and Trade, an international treaty designed to reduce tariffs and other trade barriers.