An Agreement Between the Importing Country and the Exporting Country

question 26

Multiple Choice

An agreement between the importing country and the exporting country for a restriction on the volume of exports is called a(n) :

• A)tariff.
• B)standards option.
• C)voluntary export option (VER).
• D)fee.
• E)documentation requirement.

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Definitions:

Equitable Remedy

A legal solution given by a court that requires a party to act or refrain from acting, rather than monetary compensation.

Reformation

An equitable remedy granted by a court to correct or "reform" a written contract so that it reflects the true intentions of the parties.

Imperfectly Expressed

Describes an idea, thought, or statement that has not been articulated clearly or accurately.

Shrink-Wrap Agreement

A type of contract or terms of service that is packaged within a product's packaging, considered agreed upon when the package is opened.