Question 1

The CISG is inflexible as to making sure that goods are delivered on a specified date.

Accepted Answer

A) True 
 B)False

Question 2

A German plaintiff had sold equipment to an American firm on open account.On the date the amounts were due,the American firm owed the plaintiff 60,000 marks.At that time,the dollar was worth 2.5 marks.Three years later,the plaintiff took a judgment against the American firm in the courts of New York.At the time of judgment,the dollar was worth only 1.5 marks.The New York court may do which of the following:

Accepted Answer

A)   award judgment to the plaintiff in $24,000 of U.S. currency.
B)   award judgment to the plaintiff in $40,000 of U.S. currency.
C)   award judgment to the plaintiff in 60,000 D.M., German currency.
D)   dismiss the case. U.S. courts cannot hear cases involving foreign currencies.E) All of the above
F) A) and B)

Question 3

Paul has a contract to sell i-watches to a Jo Ann in Vietnam,and enter into a contract to purchase the i-watches from Gregory in Silicon Valley.The Vietnam Government banned i-watches imported into the country.Consequently,Paul cancels the contract with Gregory.Is "frustration of purpose" recognized in the United States?

Accepted Answer

A)   Breach of contract
B)   Recognized in the United States
C)   Generally not recognized in the United States
D)   Anticipatory repudiationE) A) and D)
F) B) and C)

Question 4

In the event that a buyer receives a shipment of seriously defective goods,under the CISG:

Accepted Answer

A)   the buyer may accept the goods and reduce the amount paid to the seller accordingly.
B)   the buyer must notify the seller of the defects within a reasonable time.
C)   the seller may cure the defect up until the time for performance has expired.
D)   the seller may request additional time to perform even though he will be late in so doing.
E)   all of these are correct.F) A) and C)
G) All of the above

Question 5

Under CISG,all of the following are requirements to excuse nonperformance of a contract except:

Accepted Answer

A)   an impediment is beyond a party's control.
B)   an impediment was not reasonably foreseeable at the time contract was concluded.
C)   notice of the impediment was given to the other party.
D)   the impediment is of such a monetary value as to shock the conscience.E) C) and D)
F) None of the above

Question 6

All of the following are remedies available under CISG except:

Accepted Answer

A)   money Damages.
B)   reformation.
C)   avoidance of the Contract.
D)   specific Performance.E) A) and D)
F) B) and D)

Question 7

Contract negotiations in Japan are characterized by all of the following except:

Accepted Answer

A)   the Japanese desire for group harmony and consensus.
B)   the importance of not losing face or becoming embarrassed.
C)   the presence of lawyers during the negotiations to insure that their clients' legal interests are protected.
D)   the desire to develop a long-lasting business relationship.
E)   all of the above are characteristic of contract negotiations in Japan.F) A) and E)
G) A) and D)

Question 8

The Convention on Contracts for the International Sale of Goods (CISG)was developed to give U.S.business an advantage in international sales contracts.

Accepted Answer

A) True 
 B)False

Question 9

In the People's Republic of China,domestic contract law serves largely to enforce commitments made between state agencies.

Accepted Answer

A) True 
 B)False

Question 10

Who will prevail in the following scenarios applying the CISG? Would your answer change if the parties selected the UCC pursuant to a choice of law clause? Please provide a short explanation for each of your answers.
-"Scenario"A claim by a German buyer against an American seller alleging the seller's failure to perform an oral agreement relating to a sale of goods valued at U.S.$10,000.

Accepted Answer

Utilizing the CISG,the German buyer may ...

Question 11

Article 16,of the CISG an effective acceptance is effective when it reaches the offeror.

Accepted Answer

A) True 
 B)False

Question 12

Draft a CISG article that addresses the interpretation of "bi-lingual" contracts.

Accepted Answer

Article X: Interpretation of Bi-lingual ...

Question 13

Draft a model statute regarding international e-contracts (perhaps considering rules for offer,acceptance,and revocation).

Accepted Answer

Model Statute on International E-Contrac...

Question 14

International sales contracts concerning consumer goods sold for personal use come under CISG.

Accepted Answer

A) True 
 B)False

Question 15

Negotiations style in Japan can be characterized as:

Accepted Answer

A)   aggressive.
B)   win-win.
C)   passive.
D)   harmony, personal dignity, consensus.E) B) and D)
F) A) and D)

Question 16

Consequential money damages for breach of a sales contract may also include an amount for lost profits arising as a reasonably foreseeable loss due to the breach.

Accepted Answer

A) True 
 B)False

Question 17

In practice,most force majeure clauses do not excuse a party's performance entirely but only suspend it for a while.

Accepted Answer

A) True 
 B)False

Question 18

The following elements are all considered to be key elements materially altering the terms of an offer when included with an acceptance under the CISG except:

Accepted Answer

A)   price.
B)   place and time of delivery.
C)   specification of the ship to be used for carriage.
D)   settlement of disputes.E) B) and C)
F) C) and D)

Question 19

Under the CISG,a communication between the parties would be considered an offer when:

Accepted Answer

A)   it is in the form of an advertisement.
B)   it leaves the quantity or price terms open.
C)   it is sufficiently definite and indicates an intention to be bound.
D)   both it leaves the quantity or price terms open and it is sufficiently definite and indicates an intention to be bound.E) B) and D)
F) None of the above

Question 20

Eastern Airlines contracted with Gulf Oil for a supply of jet fuel.An oil embargo resulted in a 400 percent increase in the price of oil.Gulf demanded a price increase from Eastern.Eastern sued to ensure its supply of oil at the contract price.The result in court was:

Accepted Answer

A)   that Eastern won because Gulf should have foreseen this situation.
B)   Gulf won due to commercial impracticability.
C)   that Eastern lost because a 400 percent increase is too much of a hardship for Gulf.
D)   none of these would be the court's decision in this situation.E) B) and C)
F) A) and B)

Exam 4: The Formation and Performance of Contracts for the Sale of Goods

The Convention on Contracts for the International Sale of Goods (CISG)was developed to give U.S.business an advantage in international sales contracts.

Correct Answer
verified

Correct Answer
verified

Under CISG,all of the following are requirements to excuse nonperformance of a contract except:

Correct Answer
verified

Correct Answer
verified
Utilizing the CISG,the German buyer may ...
View Answer

International sales contracts concerning consumer goods sold for personal use come under CISG.

Correct Answer
verified

The CISG is inflexible as to making sure that goods are delivered on a specified date.

Correct Answer
verified

Article 16,of the CISG an effective acceptance is effective when it reaches the offeror.

Correct Answer
verified

Draft a model statute regarding international e-contracts (perhaps considering rules for offer,acceptance,and revocation).

Correct Answer
Answered by ExamLex AI
Model Statute on International E-Contrac...
View Answer

Eastern Airlines contracted with Gulf Oil for a supply of jet fuel.An oil embargo resulted in a 400 percent increase in the price of oil.Gulf demanded a price increase from Eastern.Eastern sued to ensure its supply of oil at the contract price.The result in court was:

Correct Answer
verified

Consequential money damages for breach of a sales contract may also include an amount for lost profits arising as a reasonably foreseeable loss due to the breach.

Correct Answer
verified

In practice,most force majeure clauses do not excuse a party's performance entirely but only suspend it for a while.

Correct Answer
verified

In the People's Republic of China,domestic contract law serves largely to enforce commitments made between state agencies.

Correct Answer
verified

Contract negotiations in Japan are characterized by all of the following except:

Correct Answer
verified

Negotiations style in Japan can be characterized as:

Correct Answer
verified

Correct Answer
verified

All of the following are remedies available under CISG except:

Correct Answer
verified

In the event that a buyer receives a shipment of seriously defective goods,under the CISG:

Correct Answer
verified

Under the CISG,a communication between the parties would be considered an offer when:

Correct Answer
verified

Draft a CISG article that addresses the interpretation of "bi-lingual" contracts.

Correct Answer
Answered by ExamLex AI
Article X: Interpretation of Bi-lingual ...
View Answer

The following elements are all considered to be key elements materially altering the terms of an offer when included with an acceptance under the CISG except:

Correct Answer
verified

Exam 4: The Formation and Performance of Contracts for the Sale of Goods

The Convention on Contracts for the International Sale of Goods (CISG)was developed to give U.S.business an advantage in international sales contracts.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Under CISG,all of the following are requirements to excuse nonperformance of a contract except:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedUtilizing the CISG,the German buyer may ...View AnswerShow Answer

International sales contracts concerning consumer goods sold for personal use come under CISG.

Correct AnswerverifiedShow Answer

The CISG is inflexible as to making sure that goods are delivered on a specified date.

Correct AnswerverifiedShow Answer

Article 16,of the CISG an effective acceptance is effective when it reaches the offeror.

Correct AnswerverifiedShow Answer

Draft a model statute regarding international e-contracts (perhaps considering rules for offer,acceptance,and revocation).

Correct AnswerAnswered by ExamLex AIModel Statute on International E-Contrac...View AnswerShow Answer

Eastern Airlines contracted with Gulf Oil for a supply of jet fuel.An oil embargo resulted in a 400 percent increase in the price of oil.Gulf demanded a price increase from Eastern.Eastern sued to ensure its supply of oil at the contract price.The result in court was:

Correct AnswerverifiedShow Answer

Consequential money damages for breach of a sales contract may also include an amount for lost profits arising as a reasonably foreseeable loss due to the breach.

Correct AnswerverifiedShow Answer

In practice,most force majeure clauses do not excuse a party's performance entirely but only suspend it for a while.

Correct AnswerverifiedShow Answer

In the People's Republic of China,domestic contract law serves largely to enforce commitments made between state agencies.

Correct AnswerverifiedShow Answer

Contract negotiations in Japan are characterized by all of the following except:

Correct AnswerverifiedShow Answer

Negotiations style in Japan can be characterized as:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are remedies available under CISG except:

Correct AnswerverifiedShow Answer

In the event that a buyer receives a shipment of seriously defective goods,under the CISG:

Correct AnswerverifiedShow Answer

Under the CISG,a communication between the parties would be considered an offer when:

Correct AnswerverifiedShow Answer

Draft a CISG article that addresses the interpretation of "bi-lingual" contracts.

Correct AnswerAnswered by ExamLex AIArticle X: Interpretation of Bi-lingual ...View AnswerShow Answer

The following elements are all considered to be key elements materially altering the terms of an offer when included with an acceptance under the CISG except:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Utilizing the CISG,the German buyer may ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Model Statute on International E-Contrac...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Article X: Interpretation of Bi-lingual ...
View Answer

Correct Answer
verified