Risk of loss for international transactions is addressed by the UCC and:
A)free trade agreements.
B)the World Trade Organization.
C)the common law.
D)the Convention on Contracts for International Sale of Goods.

Question

Quizplus · Accepted Answer

Both the UCC and the Convention on Contracts for International Sale of Goods (CISG)explicitly address risk of loss in four different situations: (1)where goods are being held by the seller, (2)where goods are being held by a third person or bailee, (3)where goods are in transit,and (4)where goods are in the control of the buyer.Moreover,the CISG deals with risk of loss where goods have been sold or resold while in transit.Under both the UCC and the CISG,breach by a party may alter the basic rules regarding risk of loss.

Risk of Loss for International Transactions Is Addressed by the UCC