In Order to Avoid the Imposition of Other Types of Trade

question 186

Multiple Choice

In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to voluntary export restraints.With voluntary export restraints, foreign producers

• A)agree to meet specific quality standards required by the importing country.
• B)limit their exports to a country.
• C)pay a tax on all products they export.
• D)must agree to import an equal quantity of products that they export.

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Definitions:

Parol Evidence Rule

A rule in contracts law that prevents parties from presenting extrinsic evidence of terms of the contract that contradict, modify, or vary contractual terms written in the contract document.

Oral Evidence

Testimony or statements spoken out loud in court as opposed to written evidence.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing to be enforceable.

United States Code

The comprehensive, codified collection of the permanent general and special laws of the United States federal government.