The CISG

question 44

Multiple Choice

The CISG:

• A)provides uniformity for transactions among contracting parties in different states in the United States.
• B)applies only to consumers,not commercial parties.
• C)applies only to services,not sales of goods.
• D)does not have provisions to cover every contract problem that might occur.

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Definitions:

Negligence

A failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to harm or damage.

Securities Exchange Act

U.S. legislation that governs the trading of securities, aimed at protecting investors and maintaining fair and orderly markets.

Fraudulent Statements

False or misleading statements made intentionally to deceive, which can result in legal action for fraud.

Audit Liability

The legal responsibility auditors face for failing to detect or report inaccuracies in financial statements.