Under the CISG

question 58

Multiple Choice

Under the CISG:

• A) loss of or damage to the goods after the risk of loss has passed to the buyer does not discharge the buyer from the obligation to pay the purchase price.
• B) loss of or damage to the goods after the risk of loss has passed to the buyer discharges the buyer from the obligation to pay the purchase price.
• C) if the buyer is bound to take over the goods at a place other than the seller's place of business,the risk of loss passes when the goods arrive at that location.
• D) if the sales contract does not involve the carriage of the goods,the risk of loss passes to the buyer as soon as the goods are placed at his disposal,regardless of the amount of time it takes him to take possession.

---

Definitions:

Reporting Dealers

Financial institutions that are involved in the foreign exchange markets, providing detailed data on market activity to central banks.

Spread

The difference between the buy and sell price for a currency.

Foreign Exchange Trade

The act of buying and selling currencies with the aim of making a profit from the changes in their exchange rates.

Buy and Sell Price

The price at which an item can be purchased and the price at which it can be sold, respectively.