Under the CSIG, Parties Are Not Allowed to Negotiate Contract

question 79

True/False

Under the CSIG, parties are not allowed to negotiate contract terms and cannot opt out of the CISG.

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Definitions:

Fiduciary Duty

An obligation one party (fiduciary) has to act in the best interest of another (the principal) in situations that require trust, honesty, and loyalty.

Compete

To engage in an effort to win or achieve something, such as business or market share, by excelling over others.

Reimbursed

To be reimbursed means to receive repayment for money that has been spent or lost, usually as a result of conducting business or performing tasks on behalf of another.

Apparent Authority

A situation where a person appears to have been given the power to act on behalf of another, even if no actual authority was granted.