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The Convention on Contracts for the International Sale of Goods

question 7

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The Convention on Contracts for the International Sale of Goods (CISG)requires a written contract for the sale of goods when the price exceeds $5,000.


Definitions:

Business Competition

The rivalry among companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.

Information

Data, facts, or details that provide knowledge about something or someone.

Investment Opportunity

A situation or vehicle through which an investor can potentially generate profit or gain from an allocation of resources.

Estoppel

A legal principle preventing a party from arguing something contrary to a claim previously established as truthful, especially if the other party acted upon it.

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