Exam 4: The Formation and Performance of Contracts for the Sale of Goods

If a U.S. company wants to limit its implied warranties in connection with a sale of goods to a French company, the CISG provides that:

"Conflict of Laws" in an international setting refers to which nation has the greater interest in applying its laws in the resolution of contract dispute cases.

All of the following may be raised as reasons for nonperformance of sales contract except :

Identify at least 10 dissimilarities between the CISG and the UCC and/or U.S. common law.

A states to B, "Within the next month, I will be placing an order for 100 Model A computers, so please give me your best price." B replies, "I will sell you this model computer for $500 each." A enters into a contract to sell the computers to C for a profit. Three weeks later, B refuses to sell the computers to A. Under the CISG:

If a merchant receives goods unsolicited with a note, "If I don't hear from you, I assume you will keep them and pay for them", failure to respond to the sender is an acceptance

International Sales Law: I. Is not uniform because of vast political, cultural, and historical differences. II. Is embodied in the Convention on the International Sale of Goods. Which of the following is correct?

Both the U.S. and France have ratified the Convention on Contracts for the International Sale of Goods (CISG). A buyer in France and a seller in the U.S. enter into a contract for the sale of widgets. If a dispute arises:

Contract negotiations in Japan are characterized by all of the following except :

Consider the benefits and detriments of a U.S. buyer and a German seller using CISG law for a sales contract.

Eastern Airlines contracted with Gulf Oil for a supply of jet fuel. An oil embargo resulted in a 400 percent increase in the price of oil. Gulf demanded a price increase from Eastern. Eastern sued to ensure its supply of oil at the contract price. The result in court was:

When one party clearly sees that the other contracting party will either not perform a substantial part of the contract, this is a:

U.S. lawyers generally prefer to draft contracts in exacting, detailed, and technical language while Japanese contracts generally tend to be short and with relatively little detail.

The CISG is inflexible as to making sure that goods are delivered on a specified date.

In the U.S., the remedy of specific performance is limited to those instances where:

A German plaintiff had sold equipment to an American firm on open account. On the date the amounts were due, the American firm owed the plaintiff 60,000 marks. At that time, the dollar was worth 2.5 marks. Three years later, the plaintiff took a judgment against the American firm in the courts of New York. At the time of judgment, the dollar was worth only 1.5 marks. The New York court may do which of the following:

Specific performance is an equitable remedy requiring a party to pay the non-breaching party a specified sum of money for breach of contract.

Re-write that contract using U.S. law.

Contract laws in socialist countries tend to be: I. Detailed, mechanical, and cumbersome. II. Enforced by private companies operating on behalf of the state. Which of the following is correct?

Buyers and sellers entered into a contract for the sale of nuts. The usual route used the Suez Canal. Prior to shipment, a war closed the canal. Because the freight charges would be so high by another route, the seller refused to ship. The buyer had to buy at a higher price elsewhere and sued the seller. At trial: