As Part of a Deal for Power-Generating Equipment, Solar Wind

question 29

Multiple Choice

As part of a deal for power-generating equipment, Solar Wind Company and Thermal Gen Ltd. enter into a written contract that includes a clause providing for the arbitration of any dispute in the United States. Under the New York Convention, if a dispute arises, a court will compel arbitration if both parties are

• A)not U.S. citizens.
• B)U)S. citizens.
• C)citizens of non-signatory countries.
• D)citizens of countries that are members of the World Trade Organization.

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Definitions:

Savings and Loan Associations

Banks and similar entities that focus on taking in savings from depositors and providing home loans along with other types of financing.

Mortgage Loans

Loans secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty.

Installment Loans

Loans that are repaid over time with a set number of scheduled payments, commonly used for items like cars and large appliances.

Financial Intermediary

An institution that acts as a middleman between savers and borrowers, facilitating the flow of funds in the economy, such as banks or credit unions.