An Agreement Signed Willingly Between the Importing Country and the Exporting

question 43

Multiple Choice

An agreement signed willingly between the importing country and the exporting country for a restriction on the volume of exports is called a:

• A) monetary barrier.
• B) tariff restraint.
• C) voluntary export restraint.
• D) special interests' privilege.
• E) balance-of-payments statement.

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Definitions:

Contractual Terms

The conditions and stipulations outlined in a contract that determine the rights and duties of the parties involved.

Fraud in the Inducement

involves deceiving someone to enter into a contract, where the deception impacts their decision to agree to the contract.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, concerning their rights and obligations.

Void

A legal term indicating that a contract or transaction is null, holding no legal effect.