In Order for the CISG to Apply to an International

question 28

Multiple Choice

In order for the CISG to apply to an international sales contract:

• A) both of the nations must be parties to the United Nations Convention on Contracts for the International Sale of Goods.
• B) the contract must specify that the CISG controls.
• C) either both of the nations must be parties to the United Convention on Contracts for the International Sale of Goods, or the contract must specify that the CISG controls.
• D) both of the nations must be parties to the United Convention on Contracts for the International Sale of Goods, and the contract must specify the CISG controls.
• E) The CISG does not apply to international sales contracts.

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Definitions:

Income Statement

a financial statement that summarizes a company's revenues, expenses, and profits over a specific period of time.

Cash Flows

The aggregate volume of funds moving into and out of a corporation, impacting its ability to cover short-term obligations.

Income Statement

A financial statement that shows the company's revenues and expenses over a specific period, indicating how the revenues are transformed into net income or loss.

Net Income

The total profit of a company after all expenses, including taxes, have been deducted from total revenue.