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Law And Mana > Session 3 > Flashcards

Session 3 Flashcards

1
Q

Contracts

A

Process of an offer and an acceptance

Oral or written

Create rights and obligations

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2
Q

International contracts

A

Legally binding agreement betw parties
Based in different countries
—> complex

Parties must anticipate

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3
Q

Most contracts deals with

A

Products and services

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4
Q

Exemple of inter contract

A

Sale contract
Distribution contract
Agency contract
Sales contract

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5
Q

Objective of contract

A 
Organise payment 
Définie parties subject matter
Geography 
Duration 
Delivery 
Price
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6
Q

In case of contracts disputes

A

Indépendant person try to find a way out

Possible to have pb resolves with arbitration : ICC

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7
Q

In contracts

A

Représentation

Warranties

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8
Q

Représentation

A

Declaration of existing facts

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9
Q

Warranties

A

Statements about the future

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10
Q

CVIM

A

Convention des nations unis sur les contrats de vente internationale de marchandises

Pilier du commerce inter

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11
Q

UNIDROIT

A

Thé institute for the unifaction of private law

International governmental organisation

Tasks: harmonise and coordinate private law betw states

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12
Q

International sales of good contract

A

Contract in which the seller transfers the property of goods to the buyer for a price

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13
Q

Inter sales of goods contracts contains :

A 
Description of goods and services
Warranties of seller
Conditions to use of goods 
Duration 
Risk allocation and limitation 
Legal clauses
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14
Q

CISG

A

The United Nations convention on contracts for international sale of goods

Provides rules governing the formation of the contract

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15
Q

Duty of good faith

A

Specificity of French law

General presumption that the parties will deal honestly

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16
Q

Risks in inter commercial agreements

A

Exporter : risk not to be paid

Importer : risk to pay without receiving conforming goods or services

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17
Q

Letter of credit

A

Letter from a bank guaranteeing that a buyers payment to a seller will be received in time

Means of payment

18
Q

The bank

A

Promise to pay and cover if the buyer is unable to pay

Created to prevent risk

19
Q

Letter of credit issued by

A

Thé importers bank :issuing bank)

20
Q

Request of

A

The importer (applicant)

21
Q

Notified by

A

The exporters bank :bottling bank

22
Q

Exporter

A

Beneficiary

23
Q

Who published the UCP

A

Uniform customs and practice for documentary credits

24
Q

Brussels I Bis régulation

A

Régulation of the EU 2012

Jurisdiction and recognition and enforcement of judgments in civil and commercial matters

25
Q

If there is no choice of jurisdiction

A

Brussels I Bis régulation determines the competent court

26
Q

Applicable law

A

Which law best protect my company’s interest ?

27
Q

Rome I Régulation

A

Default rules in absence of choice of applicable law by the parties

28
Q

Contract for the sale of goods law?

A

Law of the sellers’s place of business

29
Q

Contract for the provision of services

A

Service provider’s place of business

30
Q

Franchise contract

A

Law of the franchisés place of business

31
Q

Distribution contract

A

Law of the distributor’s place of business

32
Q

International Commercial Terms : Incoterms

A

Used to determine the reciprocal undertakings of the purchaser and seller in an inter commercial agreement

Issued by the ICC

Internationally standardised set of trade terms

Set out liabilities costs and risks

33
Q

Seller’s undertakings

A

Deliver the goods in time in quantities in quality and conformity

34
Q

In case of default the seller is

A

Liable

35
Q

Buyers undertakings

A

Payment of the price taking delivery

Rejection of non conforming goods

36
Q

Incoterms sale on departure

A

Costs and risks related to the transport are generally born by the buyer

Transfer of risks at the date of the delivery on departure

37
Q

Incoterms sales on arrival

A

Costs and risks related to the transport
Transfer of risks at the date of the delivery
Place of delivery
Costs of transports and insurance born by the seller

38
Q

Sellers interest in incoterm

A

To control his own sales as far as possible

Transfer the risks of goods to the buyer as soon as possible

39
Q

Buyers interest

A

To take charge of the imported product as far as possible

40
Q

FOB

A

Free on board
Without transport taxes which I will be paid later

Inférieur au CIF (cost insurance freight)
Applicable qu’aux transports maritimes

Law And Mana (8 decks)

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