It is a true statement that a typical written contract or agreement must contain a description of the consideration promised in order to satisfy the Statute of Frauds.
<h3>What is the
Statute of Frauds?</h3>
This refers to the legal concept that requires certain types of contracts to be executed in writing.
In the legal field, the Statute of Frauds covers contracts for the sale of land, agreements involving goods worth over $500 and contracts lasting one year or more.
Most times, the Statute of Frauds can be satisfied by any signed writing that:
- identifies the subject matter of the contract
- is sufficient to indicate that a contract exists
- states with reasonable certainty the material terms of the contract.
Read more about Statute of Frauds
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A fund formed by periodically setting aside money for the gradual repayment of a debt or replacement of a wasting asset.
Answer:
Under the WTO agreement:_________
b. a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures.
Explanation:
The WTO (World Trade Organization) Agreement is an international legal framework covering about 63 agreements affecting trade in goods, services, intellectual property, standards, investment, and other issues with some impacts on world trade. The legal framework is a system of rules that supports open, fair, and undistorted trade competition, allowing tariffs and some protections.
