Multiple choice

Charter party agreement is required when

  1. The quantity of goods to be exported is large

  2. The quantity of goods to be exported is small

  3. The quantity of goods to be imported is small

  4. None of these

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A Correct answer
Explanation

The term Charter Party agreement is used when the quantity of goods to be exported is large and the exporter hires the full ship. The agreement is known as charter party.