Exclusive Dealing Contracts Are Binding Because the Implied Obligations Are

question 61

True/False

Exclusive dealing contracts are binding because the implied obligations are sufficient consideration.

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Definitions:

Customs Duties

Customs duties are taxes imposed on the importation and sometimes the exportation of goods, designed to regulate international trade and raise government revenue.

Customs Tariff Act

Legislation that sets the tariffs and duties imposed on goods that are imported or exported.

Customs Act

Legislation that governs the importation and exportation of goods in and out of a country.

Wrong Rate

The incorrect or inappropriate pricing rate applied to a service, product, or financial transaction.