Under the CISG, the Fixing by the Buyer of an Additional

question 58

Multiple Choice

Under the CISG, the fixing by the buyer of an additional reasonable period of time in which the seller may perform is known as ________.

• A) délai de grâce
• B) de minimis
• C) nolo contendere
• D) Nachfrist notice

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Definitions:

Buyer's Market

A market condition characterized by an abundance of goods available for sale, giving buyers an advantage over sellers in terms of price negotiations.

Seller's Market

A market condition characterized by a shortage of goods available, leading to sellers having an advantage over buyers in price negotiations.

Independent Demand

Refers to the need for goods or services that is determined by external market forces, not linked to the production schedules of related items.

Derived Demand

A demand for a product or service that arises from the demand for another product or service. For example, demand for steel is derived from the demand for automobiles.