Term
| choice-of-language clause |
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Definition
| to make sure that no disputes arise out of this language problem, an international sales contract should have this designating the official language by which the contract will be interpreted in the event of disagreement |
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Term
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Definition
| a contractual provision designating the applicable law is typically included in every international contract |
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Term
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Definition
| a sequence of previous actions and communications between the parties to a particular transaction that establishes a common basis for their understanding |
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Term
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Definition
| the conduct that occurs under the terms of a particular agreement |
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Term
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Definition
| arises when a merchant-offeror gives assurances in a signed writing that the offer will remain open |
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Term
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Definition
| commonly stipulate that in addition to acts of God, a number of other eventualities may excuse a party from liability for nonperfomance; every contract, and particularly those involving international transactions, should have this |
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Term
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Definition
| a lessor and lessee's bargain with respect to the lease of goods, as found in their language and as implied by other circumstances |
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Term
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Definition
| one who acquires the right to the possession and use of goods under a lease |
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Term
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Definition
| one who transfers the right to the possession and use of goods under a lease |
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Term
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Definition
| when a person, acting in a mercantile capacity, possesses or uses an expertise specifically related to the goods being sold |
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Term
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Definition
| the seller agrees to sell and the buyer agrees to buy all or up to a stated amount of what teh seller produces |
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Term
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Definition
| determines whether a contract is primarily for the sale of goods or for the sale of services |
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Term
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Definition
| the buyer agrees to purchase and the seller agrees to sell all or up to a stated amount of what the buyer needs or requires |
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Term
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Definition
| "the passing of title (evidence of ownership rights) from the seller to the buyer for a price" |
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Term
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Definition
| contracts for the sale of goods |
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Term
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Definition
| within a reasonable amount of time |
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Term
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Definition
| has physical existence--can be touched or seen |
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Term
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Definition
| defined as any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question |
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