Canada Has a Trade ________ with the U

question 256

Multiple Choice

Canada has a trade ________ with the U.S.and the U.K.and a trade ________ with its other major trading partners.

• A)deficit; deficit
• B)deficit; surplus
• C)surplus; deficit
• D)surplus; surplus
• E)deficit; balance

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Definitions:

Debt of Another

Debt of another involves liabilities or obligations that one party assumes on behalf of another party, typically through a guarantee or cosigning arrangement.

Uniform Electronic Transactions Act

A law adopted by many states in the U.S., which gives legal validity to electronic signatures and records in commercial transactions.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed to be enforceable.

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous negotiations to alter or contradict the terms of a written agreement.