If a Question Arises Over a Trade Usage,the CISG Provides

question 51

Multiple Choice

If a question arises over a trade usage,the CISG provides that:

• A) No reference to trade usage is allowed by a court.
• B) A court can look at those trade usages that the parties knew or ought to have known and are regularly used in the industry.
• C) A court can look at those trade usages to which the parties agree to be bound.
• D) Both B and C.

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Definitions:

Net Cash Flow

The difference between a company's cash inflows and outflows within a given period, indicating the company's cash liquidity.

Accounts Receivable

Payables to a company from clients for the use or delivery of goods or services, not yet reimbursed.

Inventory

The raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Mortgage Notes Payable

A liability represented by a legal document indicating the amount owed on a mortgage, including terms for repayment and interest rates.