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Which entity emerged from the General Agreement on Tariffs and Trade, was formally established in 1 9 9 5 to serve as the primary global
Which entity emerged from the General Agreement on Tariffs and Trade, was formally established in to serve as the primary global international organization dealing with the rules of trade between nations, ensures that trade flows smoothly, predictably and freely, and has its headquarters in Geneva, Switzerland? Question options: GATT WTO WTCA ICC Question point In which legal system does the following apply: law is based on case laws that are determined through the judicial system; and, the method of setting law based on the reliance of previous judicial decisions is known as the doctrine of precedent? Question options: Civil Law Common Law Shari'ah Law Token Law Question point Countries generally have tariffs taxes on imports and exports; and will list the different schedules of duty applicable on all imports into the country, as well as any goods that are dutyfree. Generally, tariffs are applied ad valorem"; what does this mean? Question options: Based on the value of the goods By adding the tariff to the duty Only on valueadded goods By adding value Question point Which of the following is the method for customs valuation used under the WTO? Question options: Transaction value method Shipped goods method Tariff value method Value for goods method Question point Which of the following categories of duty are applied to most WTO countries that have normal trade relations with the importing country? Question options: Most Favoured Nation MFN Generalized System of Preferences GSP Normal Nation Duty NND WTO Partner Duty Question point The elements of a binding contract are often referred to as the Four Corners of a contract. Which of the following is a description of these four components? Question options: a Offer; Acceptance; Signed document; Legal intention. b Offer; Acceptance; Consideration; Legal intention c Offer; Signed document; Promised payment; Legal intention d Offer; Acceptance; Signed document; Promised payment Question point Which of the following international agreement establishes a set of rules governing certain aspects of everyday commercial contracts between sellers and buyers who have their places of business in different countries, and, by adopting it a nation commits that it will treat the rules as part of its law? Question options:
Which entity emerged from the General Agreement on Tariffs and Trade, was formally established in to serve as the primary global international organization dealing with the rules of trade between nations, ensures that trade flows smoothly, predictably and freely, and has its headquarters in Geneva, Switzerland?
Question options:
GATT
WTO
WTCA
ICC
Question point
In which legal system does the following apply: law is based on case laws that are determined through the judicial system; and, the method of setting law based on the reliance of previous judicial decisions is known as the doctrine of precedent?
Question options:
Civil Law
Common Law
Shari'ah Law
Token Law
Question point
Countries generally have tariffs taxes on imports and exports; and will list the different schedules of duty applicable on all imports into the country, as well as any goods that are dutyfree. Generally, tariffs are applied ad valorem"; what does this mean?
Question options:
Based on the value of the goods
By adding the tariff to the duty
Only on valueadded goods
By adding value
Question point
Which of the following is the method for customs valuation used under the WTO?
Question options:
Transaction value method
Shipped goods method
Tariff value method
Value for goods method
Question point
Which of the following categories of duty are applied to most WTO countries that have normal trade relations with the importing country?
Question options:
Most Favoured Nation MFN
Generalized System of Preferences GSP
Normal Nation Duty NND
WTO Partner Duty
Question point
The elements of a binding contract are often referred to as the Four Corners of a contract. Which of the following is a description of these four components?
Question options:
a Offer; Acceptance; Signed document; Legal intention.
b Offer; Acceptance; Consideration; Legal intention
c Offer; Signed document; Promised payment; Legal intention
d Offer; Acceptance; Signed document; Promised payment
Question point
Which of the following international agreement establishes a set of rules governing certain aspects of everyday commercial contracts between sellers and buyers who have their places of business in different countries, and, by adopting it a nation commits that it will treat the rules as part of its law?
Question options:
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