In a Contract Governed by UNCISG,when Must a Contract for the Sale

question 53

Multiple Choice

In a contract governed by UNCISG,when must a contract for the sale of goods be written?

• A) when the price exceeds $500
• B) when the price exceeds $1,500
• C) when the price exceeds $5,000
• D) there is no requirement that the contract be written

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Definitions:

Customer Sales

The revenue transactions that occur from selling goods or services to customers.

Invoices

Documents issued by a seller to a buyer that detail products or services sold, including quantities and agreed prices for products or services the seller has provided.

Inventory

The total amount of goods and materials held by a business for the purpose of resale or production.

Non-inventory

Refers to items or services sold by a business that are not kept in inventory, such as consulting services.