A Seller's Remedies Upon the Buyer's Default

question 14

Multiple Choice

A seller's remedies upon the buyer's default:

• A) may be goods oriented, money oriented, or obligation oriented.
• B) are subject to the doctrine of election of remedies.
• C) are, under the UCC, the same as a buyer's remedies for the seller's breach.
• D) are the same under the UCC and CISG.

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Definitions:

Space Resources

Natural materials found outside of Earth's atmosphere that can be extracted and utilized, such as water ice on the moon or minerals on asteroids.

Antidumping Duty

A tariff imposed by a government on foreign imports believed to be priced below fair market value to protect domestic industries.

United Nations Guidelines

Frameworks, principles, or standards adopted by the United Nations to guide member states in various areas including human rights, economic development, and environmental protection.

International Law

A body of rules established by treaty or custom that is recognized and accepted by nations as binding in their relations with one another.