Which of the Following Statements Is True of the Convention

question 56

Multiple Choice

Which of the following statements is true of the Convention on the International Sale of Goods?

• A) It does not resolve all areas of contract law.
• B) It encourages international trade by maintaining stable foreign exchange rates.
• C) It promotes economic development in poor countries by making loans to finance necessary development projects and programs.
• D) It applies to consumer sales for personal, family, and household use.
• E) It implements export controls on trade goods.

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Definitions:

Breaching Contracts

The act of failing to fulfill the terms agreed upon in a contract by one or more parties.

Sale or Lease

Transactions involving the transfer of ownership or the right to use property or goods for a period of time in exchange for payment.

Appropriate Remedy

A legal solution provided by a court to enforce a right, compensate for harm, or ensure fairness in the resolution of a dispute.

Unconscionability

A condition in contract law where an agreement is so unfairly one-sided that it is considered oppressive or shockingly unjust.