The United Nations Convention on Contracts for the International Sale

question 38

True/False

The United Nations Convention on Contracts for the International Sale of Goods applies to any contract that involves a buyer and seller in different nations.

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Definitions:

Uniform Simultaneous Death Act

A law designed to address the distribution of estate property when two people die at the same time or under circumstances making it hard to determine the order of death.

Inherit

To receive property, titles, debts, rights, or obligations as a result of someone's death.

Property Distribution

The division of property assets among beneficiaries or heirs according to a will or the law of intestacy.

Spendthrift Trust

A trust designed to provide a beneficiary with income while protecting the trust assets from being claimed by creditors or the beneficiary's poor spending habits.