LSB 4633 Lecture Notes - Lecture 6: Bernina International, International Trade, Newly Industrialized Country

• School: OSU
• Department: Legal Studies in Business
• Course: LSB 4633
• Professor: Geoffrey Patrick Pivateau

Document Summary

Expectations and risks in the international sale of goods. Setting and who may not trust one another. In the modern world, sellers and buyers are strangers without a prior course of dealing. There are risks associated with any sales transaction. Those risks are magnified in the context of international transactions. Through study, a manager can identify and manage potential legal risks. Expectations of the parties in a sales transaction. The buyer wishes to receive the bargained-for goods. The buyer will want to confirm that the goods are satisfactory (right to inspect) The buyer not want to pay for the goods until she finishes inspection. Otherwise the buyer will have paid for goods that are not the goods she ordered and for which she may not have a use. The seller does not wish to endure an extended waiting period while the buyer inspects.