True or false? 1/ If a contract for sale of goods does not specify that it is a

Question

True or false?

1/ If a contract for sale of goods does not specify that it is a destination or shipping contract, it is a destination contract

2/ the new york convention promotes assurance of recourse for business

3/ the nicaragua case fails to embrace arbitration since the contract as a whole is in question

4/ the UNCISG creates common expectations in contracting among member countries

5/ the major trading nations are members of the UNCISG and includes far beyond the top economies

6/ the process for WTO dispute resolution has been enhanced for timeliness and efficiency and includes settlement and appeals

7/The CISG, NY Convention and WTO share common goals for international business including predictability

Explanation / Answer

True or false?

1/ If a contract for sale of goods does not specify that it is a destination or shipping contract, it is a destination contract

False

Unless there is anything to indicate otherwise, sales contracts are presumed to be shipment contracts rather than destination contracts

2/ the New York convention promotes assurance of recourse for business

True

business can have recourse through arbitration under New York convention

3/ the nicaragua case fails to embrace arbitration since the contract as a whole is in question

False

the Nicaragua case do not fails to embrace arbitration

4/ the UNCISG creates common expectations in contracting among member countries

True

United Nations Convention on Contracts for the International Sale of Goods (UNCISG) creates common expectations in contracting among member countries

5/ the major trading nations are members of the UNCISG and includes far beyond the top economies

True

United Nations Convention on Contracts for the International Sale of Goods (UNCISG) is a treaty that is a uniform international sales law. As of May 2016, it has been ratified by 85 states that account for a significant proportion of world trade, making it one of the most successful international uniform laws

6/ the process for WTO dispute resolution has been enhanced for timeliness and efficiency and includes settlement and appeals

True

The WTO dispute settlement system is a highly effective means for finding positive solutions to disputes between or among Members and the process for WTO dispute resolution has been enhanced for timeliness and efficiency and includes settlement and appeals.

7/The CISG, NY Convention and WTO share common goals for international business including predictability

True

The CISG, NY Convention and WTO share common objective for international business as they helps trade flow smoothly, freely, fairly and predictably.

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