To Determine If CISG Applies to a Particular Contractual Issue

question 24

Multiple Choice

To determine if CISG applies to a particular contractual issue, one must look to the convention itself. If the convention does apply, domestic law is preempted. This means that ________.

• A) the case will be handled by the WTO
• B) the remedies provided in CISG are the only remedies available
• C) the domestic law will take precedence over the CISG
• D) both domestic and the CISG laws are applied together

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Definitions:

Inventory

The total amount of goods and materials held by a company for the purpose of resale or manufacturing.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of core operations.

Sales

The total revenue earned by a company from selling goods or services over a specific period of time.

Net Income

A company's financial gain following the deduction of all expenses and taxes from its earnings.