The CISG Specifically Excludes Sales Of

question 64

Multiple Choice

The CISG specifically excludes sales of:

• A) goods bought for personal, family, or household use.
• B) ships or aircraft.
• C) electricity.
• D) All of these.

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Definitions:

Forward Contract

An agreement to buy or sell an asset at a future date for a price agreed upon today.

Spot Rate

Refers to the immediate exchange rate at which one currency can be exchanged for another without any delay.

Fair Value Hedge

A type of hedge that is used to mitigate the risk of changes in the fair value of an asset or liability or an identified portion of such an asset or liability.

Forward Contract

A financial derivative that represents a customized agreement to buy or sell an asset at an agreed-upon price on a specific future date.