International Sales Contracts Overview and Obligations Variations
This chapter delves into international sales contracts, highlighting variations in obligations across countries. It covers freedom of contract, shorthand transactions, and defining terms used in the course.
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Presentation Transcript
College of Law, Al-Mustansiriyah U. Fourth Year Course in Mercantile Contracts 2016-2017 FIRST SEMESTER LECTURE #3 CHAPTER TWO:INTERNATIONAL SALES
Chapter Contents Introduction to the concept of international sales contracts as well as variations in obligations across different countries. Ad Idem: Freedom of Contract Shorthand Transaction Incoterms: duties and obligations
This chapter introduces the subject of international sales contracts. It is important to know that there are variations in obligations across different countries. The concept of freedom of contract means that parties are free to decide among themselves how to execute a contract, who will be responsible for which risk, etc.
The term shorthand transactions refers to transactions that specify time, place and price.
Term, word and phrase meaning Students also provide meaning for the different terms, words and phrases that appear throughout the material. They also discuss differences and similarities and try to relate synonyms and antonyms that they have studied during this course: Universal, terms, established, bound, National laws, valid, as idem, fulfilled, handled, support, freedom of contract, observed, increase, shorthand transactions, specify.
