The Convention on Contracts for the International Sales of Goods

question 57

Multiple Choice

The Convention on Contracts for the International Sales of Goods (CISG) includes which of the following provisions?

• A) Interpretation and trade usage
• B) Intellectual property rights
• C) Obligations and remedies of sellers,but not buyers
• D) Profitability

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Definitions:

Market Interest Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.

Annual Payments

Payments that are due once per year, commonly used in the context of loans, leases, or other financial agreements.

Compounded Annually

Refers to the process of calculating and adding interest to the principal amount of an investment or loan once per year.

Incremental Borrowing Rate

The interest rate a lessee would have to pay to borrow funds over a similar term, and with a similar security, to lease a comparable asset.