The Scope and Magnitude of Trade Flows Between the United

question 12

True/False

The scope and magnitude of trade flows between the United States and other countries have grown considerably in the last several decades.

---

Definitions:

Express Contract

A contract in which the terms of the agreement are explicitly stated verbally or in writing.

Implied Contract

a contract formed by the actions, behavior, or circumstances of the parties involved, rather than written or spoken words.

Void Contract

A contract that lacks legal validity, making it unenforceable and as if it never existed from the onset.

Voidable Contract

A valid agreement that may be legally voided at the option of one of the parties due to certain conditions such as fraud or duress.