There Are Two Sets of Standards That Distinguish Fair Trade

question 19

True/False

There are two sets of standards that distinguish fair trade.These are fair trade labelling organizations International (FLO)and standards applied to workers on farms and in factories.

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Definitions:

Statute of Frauds

is a legal principle that requires certain types of contracts to be written and signed in order to be enforceable.

Executory Contracts

Contracts under which both parties to the agreement have duties remaining to be performed. If a contract's major obligations are unfulfilled by both parties, it is seen as executory.

One-Year Provision

The one-year provision is a legal clause, often found in statutes of frauds, which requires certain contracts to be in writing and signed if they cannot be performed within one year.

Majority Rule

A principle in democracy stating that the decisions and choices of the greater number of participants should guide the actions and policies of the group.