A(n)________ Is a Party Who Signs an Instrument to Provide

question 45

Multiple Choice

A(n) ________ is a party who signs an instrument to provide credit for another party who has also signed the instrument.

• A)subrogation party
• B)accommodation party
• C)third party beneficiary
• D)incidental beneficiary
• E)intervenor

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Definitions:

Customs Union

An agreement between two or more countries to remove trade barriers and reduce tariffs among them, and to establish a common external tariff against other countries.

Common External Tariff

A uniform tariff rate adopted by a customs union or common market on imports from countries outside the union.

Free Trade Area

A region where member countries have agreed to reduce or eliminate trade barriers, such as tariffs and quotas, among themselves.

Dumping

The practice wherein an exporter sells products in a foreign state for less than the price charged for the same or comparable goods in the exporter’s home market.