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Contract Formation

Contract Formation . Offer and Acceptance under CISG. Articles 14-24, known as Part II govern contract formation under CISG States can Opt-out Requires only offer and acceptance. Introduction. A contract is concluded, becomes binding when an acceptance of an offer becomes effective. .

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Contract Formation

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  1. Contract Formation Offer and Acceptance under CISG

  2. Articles 14-24, known as Part II govern contract formation under CISG • States can Opt-out • Requires only offer and acceptance Introduction

  3. A contract is concluded, becomes binding when an acceptance of an offer becomes effective. Article 23

  4. Three Requirements: • Proposal for concluding a contract • Must indicate an intention to be bound in case of acceptance • Sufficiently definite. Offer: Article 14

  5. Definite as to 3 terms: • Description of the goods • Quantity of goods • Price of goods • Flexible pricing ok Sufficiently Definite

  6. Under Article 14 allowed because there is a provision for determining the quantity. • Output contracts • Exclusive dealing contracts Open Quantity Contracts

  7. Article 16- offers are revocable unless the offer indicates otherwise • Can become irrevocable through: • Offerors statement • Resonable reliance • Power to revoke is terminated by sending of acceptance Revocation of Offer

  8. Article 18 • A statement or conduct by an offeree indicating assent to an offer. • Acceptance is not effective until it reaches (is delivered to) the offeror. • Acceptance by conduct- offeree must still notify the offeror Acceptance

  9. Acceptance may not differ as to any material term. • If differs, it is a counter offer “Battle of the forms”

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