Which of the Following Is True About the CISG

question 41

Multiple Choice

Which of the following is true about the CISG?

• A) The full title is The United States Convention on Contracts for the International Sale of Goods.
• B) It does not apply to contracts in which the primary obligation of the party furnishing the goods consists of supplying labor or services.
• C) The CISG governs the formation of the contract,the rights and obligations of the seller and buyer arising from such contract,and the validity of the contract provisions.
• D) All of these.

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Definitions:

Actuarial Insurance

The application of statistical and mathematical methods in the insurance industry to calculate risk and determine premiums.

Frequency

The rate at which a repeated event occurs, such as the number of waves that pass a fixed point in a specific amount of time in the context of physics, or the regularity of an occurrence in general terms.

Potential Loss

The possibility of financial detriment or damage in the future.

Property Insurance Policy

A contract that provides financial reimbursement to the owner or renter of a structure and its contents, in case of damage or theft.