International Business Transactions Flashcards
Which contracts does the UN Convention on Contracts for the International Sale of Goods not apply to?
1) Contracts for goods bought at auction.
2) Contracts for the sale of shares
Which of the following does the UN Convention on Contracts for the International Sale of Goods apply to?
- different nationalities
- different state of business
different state of business
Under the UN Convention on Contracts for the International Sale of Goods, at which point does an offer made by post become effective?
When it is delivered to the offeree.
What does not constitute a counter-offer?
A request for further information.
Under which of the following ICC Incoterms does the seller have the minimum obligations with respect to delivery?
EXW
EXW means ex-works. The seller simply makes the goods available for the buyer to collect at their own place of business.
Under the UN Convention on Contracts for the International Sale of Goods, at which point is a contract formed?
When an offer has been made and validly accepted.
If a contract formed under the UN Convention on Contracts for the International Sale of Goods does not specify a time period for delivery, when should delivery take place?
Within a reasonable time after the contract is formed
Under the UNCISG, delivery should be made within a reasonable time after the contract is formed.
What are the conformity requirements for goods sold under the UN Convention on Contracts for the International Sale of Goods?
Fit for the purpose that goods of the same description would ordinarily be used.
What remedy is not available under the United Nations Convention on Contracts for the International Sale of Goods?
Injunction
Which remedy is always available to the buyer in a contract under the UN Convention on Contracts for the International Sale of Goods when the seller is in breach of contract?
Damages
