The United Nations Convention on Contracts for the International Sale of Goods (CISG) is an international treaty that aims to create uniformity in international sales transactions. The CISG was established in 1980 and is now adopted by more than 90 countries. The convention aims to establish a common set of legal rules for the sale of goods between parties from different countries, making it easier for businesses to conduct cross-border transactions.
The CISG outlines the basic legal principles that apply to the sale of goods, including the formation of contracts, the obligations of the buyer and seller, and the remedies available for breaches of contract. The CISG covers the sale of goods, including raw materials, manufactured products, and even goods that are not yet in existence.
Quizlet is an online platform that provides flashcards and study materials to help students learn and retain information. It is an excellent resource for students studying international law, including the CISG.
Here are some key terms and concepts related to the CISG that you may find on Quizlet:
– Formation of Contract: The CISG outlines the basic requirements for a valid contract, including offer and acceptance, consideration, and capacity to contract.
– Obligations of the Buyer and Seller: The CISG sets out the obligations of both parties, including the obligation to deliver the goods, pay the price, and take delivery of the goods.
– Remedies for Breach of Contract: The CISG provides several remedies for breaches of contract, including specific performance, damages, and avoidance of the contract.
– Incoterms: Incoterms are a set of standardized trade terms used in international transactions. They define the responsibilities of the buyer and seller, including who is responsible for transportation, insurance, and customs clearance.
– Reservation of Rights: Parties may reserve their rights under the CISG by explicitly stating that they are not bound by the convention.
If you are studying the CISG, Quizlet can be an excellent resource for mastering key concepts and terms. With its easy-to-use flashcards and study materials, you can test your knowledge and track your progress as you prepare for exams or work on assignments.
In conclusion, the United Nations Convention on Contracts for the International Sale of Goods is an important treaty that provides a framework for businesses to conduct cross-border transactions. With Quizlet, you can learn the key concepts and terms related to the CISG and gain a deeper understanding of international sales law.