Which of the Following Is True About the Convention on Contracts

question 9

Multiple Choice

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

• A) Under CISG, consideration is not required to form a contract.
• B) It was approved in 1942 at a diplomatic conference in Vienna.
• C) CISG includes the Statute of Frauds.
• D) The CISG applies to contracts for the sale of electricity.
• E) CISG is mandatory to parties to an international contract for the sale of goods.

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Definitions:

Attribution

The process by which individuals explain the causes of behavior and events.

Familiarity Effect

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Actual Experiences

Real-life occurrences and events that an individual personally goes through, as opposed to hypothetical or simulated situations.

Positive Toward

Exhibiting a favorable or optimistic attitude or feeling towards something or someone.