Examlex
Who will prevail in the following scenarios applying the CISG? Would your answer change if the parties selected the UCC pursuant to a choice of law clause? Please provide a short explanation for each of your answers.
-"Scenario"A claim of formation of a contract based upon a purported acceptance of an offer mailed by a Chinese offeree but never received by the American offeror.
Consideration
In contract law, it refers to something of value exchanged between parties as the basis for a contract.
Bargained-for Exchange
Bargained-for exchange is a legal concept where parties agree to provide something of value to each other, forming the basis of a contract.
Illusory Promise
A statement that appears to be a binding commitment but allows for so much discretion that it does not legally bind the party making it.
Promisor
The party in a contract who makes a promise to perform or provide a benefit to the promisee.
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