Which Organization Is Charged with Settlement of International Trade Disputes

question 29

Multiple Choice

Which organization is charged with settlement of international trade disputes?

• A)The WTO
• B)The EU
• C)NAFTA
• D)GATT
• E)The UN

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Definitions:

Breached Contract

Occurs when one party to a contract fails to fulfill its legal obligations as specified in the agreement, thereby violating the contract.

Private Sale

A transaction of goods or property conducted directly between individuals without the involvement of an intermediary or public auction.

Reasonable Notification

A requirement to give timely and clear information or warnings in various legal and regulatory contexts, ensuring that parties involved are properly informed.

Unique Goods

Items that are distinct in their characteristics, often irreplaceable, and cannot be substituted easily due to their rarity or specific traits.