In an international sales contract which terms are negotiable a What language

In an international sales contract which terms are

This preview shows page 7 - 8 out of 8 pages.

23.In an international sales contract which terms are negotiable?a.What language and currency should govern the contractb.Choice of where to sue.c.What Country’s laws will governd.all of these answers are true24.How many countries belong to the European Union?25.What is a tariff?
Background image
ESSAY1.Explain what the General Agreement on Tariffs and Trade (GATT) is and give pro and 2.Explain the origin and purpose of the World Trade Organization.The WTO was established by GATT. It has the authority to resolve trade disputes between sig-natory countries. The WTO addresses primarily tariff violations or nontariff barriers. This in-ternational "court" may order compliance from any nation violating GATT and may penalize countries by imposing trade sanctions.3.MagNet is a U.S. company based in Utah. It is negotiating to sell $4 million worth of computer goods to a French company, L'la. L'la is insisting that the contract be governed by the CISG. What are some of the primary differences between the UCC and the CISG?Under the UCC, a contract for the sale of goods valued at over $500 must be evidenced in writing; under the CISG, an oral agreement is enforceable despite the dollar amount involved. The UCC states an offer is irrevocable if it is in writing and states the offer will be held open for a fixed period of time (this is called a UCC firm offer); the CISG makes some types of of-fers irrevocable even if executed orally. The UCC does not follow the mirror image rule rela-tive to the acceptance of offers; the CISG recognizes the mirror image rule. The UCC gener-ally only permits money damages for a successful plaintiff; the CISG allows for specific per-formance under a variety of situations.
Background image

You've reached the end of your free preview.

Want to read all 8 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture