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:

Capital Accumulation

The growth of assets or wealth through investment or profits, often reinvested to generate further growth.

Costly

Something described as costly is considered to have a high price or to entail a great expense, often in terms of money, time, or effort.

Society

A group of individuals living as a community or an organized group with shared laws, traditions, and values.

Saving Rate

The proportion of income that is not spent on consumption but is instead saved or invested.