Which Is the Most Accurate Statement

question 105

Multiple Choice

Which is the most accurate statement?

• A)The WTO was set up a few years after World War II.
• B)GATT negotiations addressed intellectual property rights for the first time in the 1990s.
• C)GATT was set up in the 1990s.
• D)GATT negotiations have no affect on the trade of agricultural commodities.

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Definitions:

Unlimited Personal Liability

A legal obligation where an individual's personal assets can be used to satisfy business debts and liabilities without limit.

Represents Himself

Refers to an individual who acts as his or her own legal representative in court, without an attorney.

Liability of a Partner

The legal responsibility of each partner in a partnership for the debts and obligations of the business, which can extend to their personal assets.

UPA

Uniform Partnership Act, a set of standard laws regulating the operation of partnerships in the United States.