Comparing the UCC to the CISG, When It Comes to Giving

question 74

Multiple Choice

Comparing the UCC to the CISG, when it comes to giving judges authority to fill in terms that are not complete in a contract:

• A) they are very much the same
• B) the CISG is more generous about filling in unclear or unstated terms
• C) the UCC is more generous about filling in unclear or unstated terms
• D) neither law allows any terms to be "filled in"
• E) no comparison is possible because the scope of the laws is so different

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Definitions:

Overhead Allocation

The process of spreading out fixed costs, such as salaries and utilities, across different departments or production activities within a company.

Product Cost Distortion

The inaccurate allocation of production costs to products, potentially leading to misleading cost information and pricing decisions.

Variable Cost Concept

The principle that costs vary in proportion to the level of production or business activity.

Cost-Plus Approach

A pricing strategy where the selling price is determined by adding a specific markup to a product’s unit cost.