Which of the Following Observations Is True

question 126

Multiple Choice

Which of the following observations is true?

• A)The past two decades have witnessed a decline in the number of regional trade blocs.
• B)World Trade Organization members are not required to notify the organization of any regional trade agreements in which they participate.
• C)By entering into regional agreements,groups of countries aim to reduce trade barriers more rapidly than can be achieved under the auspices of the WTO.
• D)The total number of regional trade agreements currently in force is around 40.

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Definitions:

Promissory Estoppel

A legal principle that prevents a party from going back on a promise, even if it was not formally agreed to in a contract, if someone else has relied on that promise to their detriment.

Tort of Deceit

A legal cause of action that arises when one party intentionally lies or misrepresents a material fact with the intent to deceive another, causing harm.

Guarantor

An individual or entity that agrees to be responsible for another's debt or performance under a contract, should the primary party fail to meet its obligations.

Principal Debtor

The main individual or entity responsible for repaying a debt or obligation.