Business Negotiations and Contracts: Difference between revisions

Business Negotiations and Contracts (view source)

Revision as of 15:27, 23 November 2013

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adding notes for == Week 47 - self learning for assignments ==

Jukeboksi

Bureaucrats, Administrators

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 [[w:UNIDROIT|UNIDROIT]] is the [[w:International Institute for the Unification of Private Law|International Institute for the Unification of Private Law]]
+== Week 47 - self learning for assignments ==
+=== Delivery terms ===
+* The '''[[w:Incoterms|Incoterms]]''' rules or '''International Commercial Terms''' are a series of pre-defined commercial terms published by the [[w:International Chamber of Commerce|International Chamber of Commerce]] (ICC) that are widely used in International [[w:commercial transaction|commercial transaction]]s or [[w:procurement|procurement]] processes.  A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. ( Wikipedia )
+::* '''[[w:Risk of loss|Risk of loss]]''' is a term used in the [[w:law|law]] of [[w:contract|contract]]s to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred. ( Wikipedia )
+What triggers ''transfer of ownership'' and ''risk of loss''?
+# [[w:Law|Applicable law]]
+# [[w:Contract|Contract]]
+# [[w:Breach of contract|Breach of contract]] ( breaching party is liable )
+# [[w:Delivery (commerce)|Delivery]] by [[w:common carrier|common carrier]] other then [[w:sales|seller]] ( loss of risk is transferred to buyer when delivery is completed as agreed in the contract ) ( Teacher )