Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Formation of International contract in the ( CISG ) under actical 1224,8,9,11,29 - Essay Example

Comments (0) Cite this document
A contract is an agreement enforceable by law. A contract is made between two or more independent legal entities, by which rights are acquired by one or more, to act on the part of the other. It creates and defines obligations between the parties of the contract (Research(ICMR).
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.1% of users find it useful
Formation of International contract in the ( CISG ) under actical 1224,8,9,11,29
Read TextPreview

Extract of sample "Formation of International contract in the ( CISG ) under actical 1224,8,9,11,29"

Download file to see previous pages It may be noted that a contract essentially contains two elements: Agreement and enforceability by law. An agreement is defined as 'every promise and every set of promises forming consideration for other.' This essentially means that there should be an offer and acceptance to form an agreement. It is important that before an agreement is finalized there should be a Consensus ad idem (Consensus to the matter) between the two parties. Both the contracting parties should 'say and mean the same' without which there cannot be a contract (Bharadwaj).
The other element of contract, enforceability by law, emphasizes the importance of intention to create a legal obligation or duty to perform or abstain from performing certain act(s). These acts could relate to social or legal matters.
The initial efforts to develop a uniform law of international sales began in 1930 under the auspices of the International Institute for the Unification of Private Law (UNIDROIT). UNIDROIT submitted two draft conventions: the Convention Relating to a Uniform Law on the International Sale of Goods (ULISG or ULIS) and the Convention Relating to a Uniform Law on the Formation of Contracts for the International Sale of Goods (ULFC or ULF). ...
Although both draft conventions were adopted at a 1964 Diplomatic Conference in The Hague, many states, including the United States, did not ratify them. Some of the criticisms expressed were that the provisions primarily reflected the legal traditions and economic realities of continental Western Europe (Germain).
There is a distinction between a sale and an agreement to sell. This distinction between a sale and an agreement to sell can be summarized as follows:
1. A contract which contemplates transfer of title to goods to the buyer immediately is a sale while a contract which does not contemplate a transfer of title to goods immediately is an agreement to sell.
2. A contract of sale is an executed contract. It involves a contract plus a conveyance of the property. When the property is transferred, the rights and liabilities attached to the goods are also transferred. An agreement to sell, on the other hand, is an executor contract. The property in the goods does not pass until a certain time has lapsed or until a certain condition is fulfilled.
3. In an agreement to sell, the seller remains the owner of the property until it is actually transferred to the buyer at a future point of time. However, in a contract of sale, the buyer becomes the owner immediately and all the risks attached to the goods are passed on to him irrespective of the fact whether the goods are delivered to him or not and whether the price is paid or not.
4. In an agreement to sell, the seller agrees to sell the goods for a price and the buyer agrees to buy the goods for a price. In a contract of sale, the seller sells the goods to the buyer for a price.
5. The consequences of a breach of an agreement to sell is as follows:
a. In case the buyer defaults, the seller may sue for ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Formation of International contract in the ( CISG ) under actical Essay”, n.d.)
Formation of International contract in the ( CISG ) under actical Essay. Retrieved from
(Formation of International Contract in the ( CISG ) under Actical Essay)
Formation of International Contract in the ( CISG ) under Actical Essay.
“Formation of International Contract in the ( CISG ) under Actical Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Formation of International contract in the ( CISG ) under actical 1224,8,9,11,29

9/11 events

...was getting suspicious about the way how a terrorist can get hold of an airplane at a well secured international airport. Also the method in which the twin tower collapsed shows that explosives have been used to make the demolition top downwards. According to (Angus)“Many adults in the United States believe the current federal government has not been completely forthcoming on the issue of the 9/11 terrorist attacks, according to a poll by the New York Times and CBS News. 53 per cent of respondents think the Bush administration is hiding something, and 28 per cent believe it is lying”. Here I tend to notice that to demolish a huge building like WTC in a particular fashion there had to be...
6 Pages(1500 words)Research Proposal

Post 9 11 America

...?Matthew Daniel  Mrs. Ansah  Eng 1010  7 December Post -9/11 The post -9/11 is usually used to refer to the living in the United s of America after the terrorist attack. Due to the threat, it posed to the American and the world at large; the incidence brought forth the necessity of major transformation especially by the United States government in order to ensure safety within the country. Since then, many other national and international issues has risen which among to some people have overshadowed the post -9/11 era. This paper seeks to give an in-depth analysis of post -9/11. There are...
3 Pages(750 words)Research Paper

The impact of the CISG on international business transactions

...the classified commercial law. Within a short span of time a total of 70 countries became the member of CISG. A number of eminent scholars have highlighted the importance of CISG in the international arena. In order to cite an instance according to Fletcher (2009) the Contract for International Sale of Goods is one of the most successful attempts to harmonize the international trade. He further quoted that CISG project was a successor of the 2 substantive international sales agreements. The agreements were ‘Uniform Law on the Formation of Contracts for the...
6 Pages(1500 words)Essay

Fahrenheit 9/11

...Fahrenheit 9/11 Fahrenheit 9/11 is a documentary film that offers a critical insight into the presidency of George W. Bush and the war on terror including its coverage in the media. The film was written and directed by Michael Moore and was produced in 2004. The film is politically high-toned because of the manner in which it presents its main theme. The title of the film is created from a mix of Francois Truffaut’s film and Ray Bradbury’s novel Fahrenheit 451. The film specifically indicts the Middle East policies initiated by the Bush administration before and after the September 2001. The film features a footage of abuse on Iraqi captives who are publicly by the...
3 Pages(750 words)Essay

Media and 9/11

...was ". . . facing, at best, a Mexican-style political and economic disorder . . ." and is incapable of ". . . sustainable parliamentary democracy." "Egypt," wrote Jack Beatty in December, 2001, "under threat from Islamic terrorism, has been governed under a state of emergency virtually since 1967."(3) With these observations in mind, let us see how the Cairo weekly Al-Ahram covered the events and aftermath of 9/11. On the paper's Online front page for the week of September 13th are 8 articles about the WTC and Pentagon attacks in which leaders of political parties are quoted. Some of their titles are: 'State of War,' 'The Giant's Feet...
22 Pages(5500 words)Book Report/Review

Formation of a Contract

...Running head: ADVICE TO BARBARA AS TO HER LEGAL POSITION IN RELATION TO JANET AND ROY Formation of a Contract Advice to Barbara atto her Legal Position in Relation to Janet and Roy Barbara who was in need of buying herself a second hand car while still on a low income paying job was lucky to be lend 3000 by her stepfather Roy. However, the agreement was that she was to repay the money with 30 equal instalments starting last November plus interest. She really needed a car that was worth the 3000 she had been lend by her Stepfather but she came across an advertisement for sale of a second hand car that was going for 3200. There was a Janet's telephone number who owned the Black Ford Fiesta that was being...
4 Pages(1000 words)Case Study

Disaster of 9/11

... the world be prepared and need to be trained to fight terrorism. It is not only the responsibility of a few people to safeguard the entire country; rather it is the responsibility of every one to fight terrorism. Work cited 9/11 Attacks on America. 29 September 2006. National Preparedness Month. 29 September 2006. Research Paper 01/72. 11 September 2001: the response, 3 October 2001. International Affairs & Defence Section, House of Commons Library, 29 September 2006. Wikipedia, September 11, 2001 attacks, 2006. Wikimedia Foundation, Inc. 30 September 2006. .... Disaster of 9/11 The world saw one of the most tragic terrorist attacks on September 11, 2001....
2 Pages(500 words)Essay


... Thesis: The 9/11 event is famous for changing the world upside down. The events that unfolded on that fateful day brought to the fore a number of problems which have to date been unresolved. Terrorism came in the wake of the 9/11 event and hence the world suffered on more than a single count. Essay: The 9/11 event changed the face of this world. One can easily suggest that there were a number of wrongs which came up with this worldwide phenomenon that we now know by the name of September 11th bombings on the superpower nation of the world – the United States of America. 9/11 brought to the fore the...
5 Pages(1250 words)Essay

CISG Contract , Goodscan Contract Fact Pattern required by the convention (Ramberg 15). Secondly, where a contract has been legally finished but does not implicitly or expressly solve or make recommendations for evaluating the worth of goods, the parties are considered, in the absenteeism of any sign to the disagreeing, to have made reference to the cost generally incurred at the time of finalizing the agreement for such items sold under comparable conditions in the trade in question according to Ramberg (11). 3. Both Sides of the Argument Regarding the two sides, it can be argued that both Hospitex and Goodscan are justified in their actions in the dealings. The two parties agreed to adopt the CISG in which...
6 Pages(1500 words)Assignment


...FEMA DISATER OVER THE LAST 10 YEARS Contents Contents 2 3 3 0 Introduction 4 1 Response Efforts before and after 9/11 4 1.2 Hurricane Katrina 6 1.2.1 Stakeholders involved in Hurricane Katrina 8 1.3 Hurricane Sandy 10 1.4 Conclusion 13 1.5 References 15 Abstract The research work aimed at exploring the planning and mitigation efforts by the country in dealing with catastrophic disasters. It revealed the past weaknesses in the preparations and strategies adopted in the provision of response services during disasters. Mostly, failures came because of lack of co-ordination and poor analysis of the situation before and after disasters strike the country. It also revealed the importance...
10 Pages(2500 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Formation of International contract in the ( CISG ) under actical 1224,8,9,11,29 for FREE!

Contact Us