BUS 202 Lecture Notes - Lecture 12: Storer Communications, Protectionism, Passive Income
Document Summary
Ucc (us)- sale of goods [uniform commercial code] Cisg- international sale of goods law. (this will apply unless one or both of the parties opts out of. What countries are not cisc: saudi arabia, iran, india, uk, yemen, brazil, south africa, venezuela most of africa [for many years japan was not in it] Cisg vs. ucc: in the cisg anyone who is selling something is a merchant while in ucc, the transaction must be your specialty for you to qualify as a merchant. 2. ucc has warranty, cisg does not: when is acceptance effect. Ucc acceptance is effective when you send it the same medium or faster. No medium reasonable rule in cisg: cisg- no statute of fraud. Bribery- you have a company manufacturing computers and japan trade minister says they want to buy millions of dollars in computer but you must give them a facilitating fee (bribe).
