Which of the Following Is True of the CFTA

question 26

Multiple Choice

Which of the following is true of the CFTA?

• A) It was designed to eliminate trade barriers between the United States, Canada, and parts of Asia.
• B) It created several, independent commercial markets for goods and services.
• C) It was a customs union like the European Community.
• D) It involved economic and political unions.
• E) It provided only for the elimination of tariffs and other trade barriers between the United States and Canada.

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Definitions:

Illusory Promise

A promise that is vague or made in such a way that it does not actually commit the promisor to any course of action.

Enforceable Contract

A legal agreement between parties that is valid and recognized by the law, allowing for it to be enforced in a court of law.

Accord And Satisfaction

An agreement between two parties where a dispute is settled by agreeing on a less than what is owed, and the performance of the agreement fully satisfies the debt.

Latent Injury

An injury that is not immediately apparent and may become manifest only after some time has passed.