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International Sale of Goods - Coggle Diagram
International Sale of Goods
Additional issues
Delivery
Implied rules - takes place when possession is transferred
Should be dealt with expressly
Payment
Buyer risks delivery before payment
Jurisdiction and governing law
UCTA 1997
Force majeure
Specify the period suspended for
If continuing, contract is terminated
List events covered
Events:
Acts of God
Adverse weather
War
Riot
Government Action
Usually requested by the seller as they are affected
Letters of credit
Step 2 - buyer applies to bank and pays fee
Step 3 - bank notifies seller and gives undertaking
Step 1 - parties agree terms
Step 4 - seller sends off goods
Step 5 - seller asks banks for payment and presents documents
Step 6 - bank pays seller
UCTA and supply contracts
Meets one or more conditions in 26(4):
goods carried from one territory of state to another
offer and acceptance toook place in territories of different states
goods to be delivered to a territory other than that where the acts were done :
Reasonableness test set out in S26(2) - not subject to a requirement of reasonableness
contract involves goods between parties whose places of business are in different countries (26(3))
Definition set out in s26(3) and 26(4) UCTA