Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
North American Free Trade Agreement
A trilateral treaty - entered into on January 1, 1994 between the United States, Canada, and Mexico - that phases out all tariffs and eliminates many nontariff barriers (such as quotas) inhibiting the free trade of goods between the participating nations. - Abbr. NAFTA.
fair-trade agreement
A commercial agreement that a seller will sell all of a producer's goods at or above a specified minimum price. Fair-trade agreements were valid until 1975, when the Consumer Goods Pricing Act .made them illegal. 15 USCA ยงยง 1, 45.
reciprocal trade agreement
An agreement between two countries providing for the exchange of goods between them at lower tariffs and better terms than exist between one of the countries and other countries.
trade agreement
1. An agreement - such as the North American Free Trade Agreement -between two or more nations concerning the buying and selling of each nation's goods. 2. See COLLECTIVE-BARGAINING AGREEMENT.