Question
In: Economics
The following are case questions, please read the facts and answer: Question:(1) is there a contract...
The
following are case questions, please read the facts and answer:
Question:(1) is there a contract under the CISG?
(2) And why?
Solutions
Expert Solution
Contracts for the International Sales of goods (CISG) regulate
the formation of contracts. The contract is between mainly through
exchange of offer and acceptance. Both the parties have certain
obligations. Obligations of buyers are payment of price and taking
the delivery of goods and services. The obligations of sellers are
delivering goods with high quality and quantity. The CISG provide
rules about breach of contract.
The offer is an act which provides the proposal for concluding a
contract. Acceptance can be taken as a statement or conduct. The
acceptance become effective when it reach the offeror. The CISG is
a middle way between common and civil law traditions which helps to
achieve acceptable, efficient and suitable beneficiaries. The scope
of appealing conventions and general provisions, rules regarding
the formation of contracts, the rights and obligations of buyers
and sellers from the contracts and the conventions regulating
matters are the major parts of CISG
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