MIM 524 Global Sourcing Class five. Contracts, Contract Terms and International Terms This is intended to be a holistic overview of contracts and the legal aspects of global business. Agenda. Agency Law Contract Formation Legal Issues in Purchasing UCC vs. CISG
Contracts, Contract Terms and International TermsThis is intended to be a holistic overview of contracts and the legal aspects of global business.
Transactions in goods, where U.S. law applies.
Commercial transactions in goods between parties in signatory nations, and can displace the UCC in an international context.Generally:
Automatic application if “sale of goods” when U.S. law applies (any state) except Louisiana.
Sale of goods between parties in “contracting states.”
If only one party is in a contracting jurisdiction, CISG will not apply, unless both contracting parties agree.When Do They Apply?