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PracticalCourseforImportExportBusiness
InternationalSalesContractChapterTwo
Section1.FormationofasalescontractSection2.ThestructureofasalescontractCONTENTSSection4.ContractdraftingSection3.ContentsofasalescontractSection5.Exercise
Section1
SectionONETheinternationalsalecontractisthemostusedcommercialcontractandamongthegoverningtraderelationsbetweentwodifferentnations,whichisgenerallygiveninwriting.Theagreementincludestherights,duties,obligations,andremediesforbreachofthepartiestothecontract.Thepartiescanbeeitheranexporter/selleroranimporter/buyer.Theinternationalsalecontractshouldhavedetailslikequantityandtypeofproduct,deliverytime,conditionsofpayment,price,governingbodyoflaw,theforumwherethedisputehastobesolved(ifanyarises),andthemethodofdisputeresolution.
Afterlearningthischapter,youshouldbeableto:knowthecontentsofasalescontractHowtodraftasalescontractAfterlearningthischapter,youshouldbeableto:knowthecontentsofasalescontractHowtodraftasalescontractLearningObjectivesAbilityObjectivesSectionONE
FormationofasalescontractTherearefivebasicrequirementsthatneedtobesatisfiedinordertomakeasalescontract:●Anagreementbetweentheparties(whichisusuallyshownbythefactthatonehasmadeanofferandtheotherhasacceptedit).●Anintentiontobelegallyboundbythatagreement(oftencalledintenttocreatelegalrelations).●Certaintyastothetermsoftheagreement.●Capacitytocontract.●ConsiderationSectionONE
Foracontracttoexist,usuallyonepartymusthavemadeanoffer,andtheothermusthaveacceptedit.Onceacceptancetakeseffect,thecontractwillusuallybebindingonbothparties,andtherulesofofferandacceptancearetypicallyusedtopinpointwhenaseriesofnegotiationshavepassedthatpoint,inordertodecidewhetherthepartiesar
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