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David Chapter 05 mod

David Chapter 05 mod - Chapter 5 INTERNATIONAL CONTRACTS...

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Chapter 5 I NTERNATIONAL C ONTRACTS LEARNING OBJECTIVES At the end of this chapter, the student should: 1 Know about international sales contracts and the United Nations Convention on Contracts for the International Sale of Goods (CISG). 2 Know about legal issues regarding agency vs. distributorships. 3 Know elements of an agency or distributor contract. 4 Be able to determine the rights, responsibilities, and hazards of terminating foreign agents or distributors. PREVIEW As will be seen throughout the course, there are complexities relating to international commerce. One of these is in the area of contracts. Given the misunderstandings that can result over wording of and traditions surrounding domestic contracts, the problems can increase exponentially on an international basis when the potential for confusion is aggravated by different languages and legal systems and by discrepancies between the Uniform Commercial Code (UCC) of the United States and the United Nations Convention on Contracts for the International Sale of Goods (CISG).
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