Fob contract problem question
C.I.F. or F.O.B.: That is the Question! Main Features of the Two Contracts for the International Sale of Goods Implied Terms Exam Question Answer. University. Northumbria University. Module. Contract Law [FT Law plus] LA0631. Academic year. 16/17. Ratings. 12 1. Share. Copy. Comments. Please sign in or register to post comments. gg. gail • 1 year ago. thanks. Related Studylists. 3rd yesr CONTRACT LAW contract law. 1 THE MA İN D İFFERENCES BETWEEN CIF AND FOB CONTRACTS UNDER ENGL İSH LAW CIF contract is that when the seller has delivered the goods or provides them afloat. He has to perform the contract by tendering conforming documents to the buyer. FOB contracts: shipment/delivery periods The problem. The danger of the FOB contract specifying a period for arrival of the vessel is that there is then the unanswered question of when exactly “C.I.F. or F.O.B.: That is the question!” Main features of the two contracts for the international sale of goods Elis Tarelli, LL.M. (Newcastle University) Doctorate student, Universität Hamburg-----I. Introduction Despite the development of technology and internet which by far have affected the Free On Board - FOB: Free on board (FOB) is a trade term that indicates whether the seller or the buyer has liability for goods that are damaged or destroyed during shipment between the two
CIF Versus An FOB Contract. This brief discusses the legal implication why buyers and sellers would prefer a c.i.f. contract rather than an f.o.b. contract. The brief starts by defining the f.o.b. and c.i.f. contracts. Then, it examines the legal obligations and rights of the buyer and seller under an f.o.b. and c.i.f. contract.
equivalent insurance obligation in FOB contracts also under common marine insurance issue. Furthermore is, therefore, an attempt to question those long-. INTRODUCTION. In this case study, Imran bought 20 tons of Alfalfa from James with FOB contract. The buyer nominated the ship which is The Hulk and James made the contract of carriage, procured a bill of lading and put the goods on board within the contract period. The FOB (Free On Board) and CIF (Cost, Insurance and Freight) contracts are involved with international export sale contracts also called ‘export transactions’, although the FOB contract is loosely used in local commercial transactions [] . These terms have been put in place so as to maintain uniformity, certainty and predictability in international trade agreements. Both the FOB and CIF contracts are both very important contract under the international commercial law. CIF contracts are more detailed and the performance of the contract needs to be done by fulfillment of many specified conditions, delivery of documents to the buyer thus the FOB contracts are more flexible than of the CIF contracts or more free.
1 THE MA İN D İFFERENCES BETWEEN CIF AND FOB CONTRACTS UNDER ENGL İSH LAW CIF contract is that when the seller has delivered the goods or provides them afloat. He has to perform the contract by tendering conforming documents to the buyer.
C.I.F. or F.O.B.: That is the Question! Main Features of the Two Contracts for the International Sale of Goods
The problems that pluralist theories without meta-norms pose are nicely illustrated in A perennial question in contract law is why the state should enforce a contract against the 1976) (holding that despite the express term " F.O.B. vessel" in
Baskind: Commercial Law Concentrate 3e Chapter 5: Outline answers to exam questions. The co-existence of the Unfair Contract Terms Act 1977 and the Unfair Terms in Consumer Contracts Regulations 1999 is often inconsistent, overlapping and is unnecessarily complex. Cheat sheets for finals Commercial Law Notes. - Lecture notes, lectures 1 - 12 Sample/practice exam 1 November 2016, questions and answers - Sample/practice exam 2015, questions and answers - Example ways to answer exam questions for mll214 per each topic Exam 2011, questions Exam 2014, questions Sale of Goods: Passing of Risk and Property. A Free On Board (FOB) contract is a good example where risk and property pass at the time of shipment but if the seller reserves the right of disposal of goods till the payment of full price the risk passes at the time of shipment but the property passes when the full price is paid. If the buyer
Cheat sheets for finals Commercial Law Notes. - Lecture notes, lectures 1 - 12 Sample/practice exam 1 November 2016, questions and answers - Sample/practice exam 2015, questions and answers - Example ways to answer exam questions for mll214 per each topic Exam 2011, questions Exam 2014, questions
As an example of how fob vessel would work, the contract or bill of lading agreed upon by the buyer and seller would include the name of the particular ship Feb 29, 2008 Commercial trends in FOB contracts have changed over the years, This Alert seeks to highlight the problems for traders and suggest some answers. the unanswered question of when exactly does the Seller have to load? Shipping space was not a problem anymore and the buyer needed not be personally In a “classic” f.o.b. contract the duties of the seller are less in number. This problem was resolved through invention of documents Documents In order to answer that, court had to determine type of contract in question – CA held.
While this may seem like a simple concept, like most issues in the law, the devil is in the If the contract is silent, the assumed term is FOB Shipping Point.