Which of the Following Is True Regarding the Holding of the Court

question 52

Multiple Choice

Which of the following is true regarding the holding of the court in The Travelers Property Casualty Company of America and Hellmuth Obata & Kassabaum Inc.,v.Saint-Gobain Technical Fabrics Canada Limited,the case in the text involving whether the statute of frauds barred enforcement of a contract and also whether the United Nations Convention on Contracts of the International Sale of Goods (CISG) applied to a contract in view of the fact that a particular state's law was referenced in the contract?

• A) That the CISG did not apply because the contract referred to provisions of the UCC and that the statute of frauds contained within the UCC barred enforcement of the contract.
• B) That the CISG did not apply because a construction of an arena, which would result in a type of realty, was concerned and that the statute of frauds contained within the UCC barred enforcement of the contract.
• C) That the CISG did not apply because significant provisions in the contract were left unwritten but that the statute of frauds was inapplicable.
• D) That the CISG applied and that oral discussions could have formed a contract.
• E) That the CISG applied and that no contract could have resulted because of the lack of a writing.

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Definitions:

Periodic Interest Rate

The rate of interest earned in one compounding period.

Payment Interval

The length of time between successive payments in an annuity.

Registered Retirement Savings Plan

A savings and investment account, primarily used in Canada, that provides tax benefits for retirement savings.

Compounded Monthly

Interest calculated and added to the principal balance each month.