contract mistakes - way. 7. Delivery- Delivery indicates...

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Dessya Palit Business Law 1 Sales Contract Project Missing Items 1. Quantity- Quantity is one of the most important terms to include in the contract. Without it, a court may not be able to enforce the contract. 2. Price- Under the UCC, parties may enter into a valid contract even though the price is not set. Under the CISG, a contract must provide for a exact determination of price. 3. Weights- In some contracts, delivered and shipped weights can be important. During shipping some loss can be attributed to the type of goods (spoilage of fresh produce, for example_ or to the transportation itself. A seller and buyer can agree on the extent to which either of them will bear such losses. 4. Arbitration needs to be in the law of TX, 5. Guarantee is brooms, not coffee 6. Claims- Many international contracts include definition of terms so that the parties understand what they mean. Some terms are used in a particular industry in a specific
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Unformatted text preview: way. 7. Delivery- Delivery indicates that it is a destination contract. The seller has the obligation to deliver the goods to the destination, not simply deliver them into the hands of a carrier. The seller bears the risk of loss until the goods are delivered at their destination. Typically, the seller will have bought insurance to cover the risk. 8. Insurance- Delivery terms are commonly placed in all contracts. Such terms determine who pays freights and other costs, and, in the absence of an agreement specifying otherwise, who bears the risk of loss. 9. Insolvency or Financial Failure of Buyer/Seller- This clause protects a party if the other party should become financially unable to fulfill the obligations under the contract. This if the seller cannot afford to deliver, or the buyer cannot afford to pay, for that stated reason, the other party can consider the contract breached....
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contract mistakes - way. 7. Delivery- Delivery indicates...

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