LW B The UN Convention on Contracts for the International Sale of Goods and Incoterms

The CISG applies to which type of contract?

• 1 A contract for services
• 2 A sale of land
• 3 A sale of goods to a consumer for personal use
• 4 A sale of goods between parties in different states that have adopted the Convention

Under the CISG, an offer is sufficiently definite if it:

• 1 Is in writing
• 2 Is signed by two witnesses
• 3 States only the price
• 4 Describes the goods and fixes, or provides for, the quantity and price

A buyer receives an offer and says nothing. Under the CISG:

• 1 Silence on its own is not acceptance
• 2 Silence is acceptance if the price is fair
• 3 The contract is formed immediately
• 4 Silence is acceptance after 7 days

When does an acceptance take effect under the CISG?

• 1 When payment is made
• 2 When it is posted
• 3 When the indication of assent reaches the offeror
• 4 When the goods are shipped

Goods delivered under a CISG contract are 20 percent below the quality agreed. By what latest time must the buyer give notice of the lack of conformity, whatever the circumstances?

• 1 Five years
• 2 One year
• 3 30 days
• 4 Two years from the date the goods were handed over

Which remedy is available to a buyer only if the seller's breach is fundamental?

• 1 Reducing the price
• 2 Requiring performance
• 3 Declaring the contract avoided
• 4 Claiming damages

Where a contract involves carriage of goods, risk generally passes to the buyer when the goods are:

• 1 Delivered to the buyer's warehouse
• 2 Ordered by the buyer
• 3 Handed to the first carrier
• 4 Paid for

What do Incoterms deal with?

• 1 The law that governs the contract
• 2 Who arranges and pays for transport and insurance, and where risk passes
• 3 The price of the goods
• 4 The ownership of the goods

Which of these is an Incoterm that applies only to sea and inland waterway transport?

• 1 DAP
• 2 EXW
• 3 FOB
• 4 FCA