Which of the Following Statements About the United Nations Convention

question 76

Multiple Choice

Which of the following statements about the United Nations Convention on Contracts for the International Sale of Goods (CISG) is true?

• A)The CISG requires that all contracts be in writing to be enforceable.
• B)The CISG requires that contracts can only be proven by subsequent agreements.
• C)The CISG requires that all contracts must be supported by independent evidence.
• D)The CISG permits parties to a written contract to require that any modifications of the contract be in writing.

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Definitions:

Student Loans

Borrowed money aimed at financing higher education expenses, which typically comes with interest and must be repaid after the student graduates or leaves school.

Simple Interest Rates

An interest calculation method where the interest is computed only on the original principal amount throughout the life of the investment or loan.

Principal

The original sum of money borrowed in a loan or put into an investment, excluding interest.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically used for financing inventory and accounts receivable.