Dispute Settlement Mechanism
Essay by Anani Song • May 16, 2016 • Coursework • 646 Words (3 Pages) • 1,140 Views
-Dispute Settlement Mechanism
*note:
1.
2. which WTO rules are breach
3. exceptions (see whether any of the exceptions apply)
i.e.: Malaysia and Singapore signed an agreement on the haze issue
4. If u discuss 1 & 3, u must bring in TBT
5. Procedures
Lecture 4&5 Contracts for the international sale of goods
Goods here refers to movable properties (lands, buildings, assets are not goods)
*note:
1. would it be bangla law or international law?
2. choice of forum – which court
3. Incoterms 2010 shall apply – model of terms (contractual terms), certain standard of terms universally applicable
4. Vienna Convention 1980 – international law
5. Obligations: things ur obliged to do
SOGA – Sale of Goods Law (with regards to selling and buying goods)
Breach of contract: One of the term in the contract is not fulfilled
Fundamental breach – major breach
Seller’s remedies – what does the seller wants (obviously buyers have breached contract i.e. non-payment, late payment, lack of information)
Buyer’s remedies – what does the buyers wants (obviously sellers have breached contract i.e. fulfilment)
***passing of risk & property
passing of property means ownership passes
when ownership passes, risk could also be passed (risk: responsibilities)
reservation of title (ownership) clause: seller wants to retain ownership until payment is made WHY? Seller does not wants the goods to be used by the creditors against a bankrupt buyer
force majeur: something happened beyond human control i.e. natural disaster
essential elements: must have those elements otherwise it’s not a valid contract
offer: intention to do something (cf – contrast further) , invitation to treat (just information), supply of information (enquiry and supply of information has no contract), advertisement
acceptance: when a party agree to provide
counter-offer: when a buyer change the price (i.e. car is 100k offered by seller, buyer replied by countering offer of 80k) *** when u counter offer, current offer are not valid anymore.
Consideration: something given by the person accepting to the person making the offer – usually in the form of money
Certainty: contract must be clear i.e. car, what model, how many units, price etc
Once all of the elements is satisfied, it is a contract.
Every Contract has this these three stages:
- Is there a contract? (If there’s no contract u have no rights)
- Is there a breach? (to know u gotta see what does the contract say
- If there’s a breach, what are the remedies u want?
Can terms be inserted after formation? (the moment offer accepted, it means there is an agreement) – NOPE
If there’s a clause stating subject to change, they can change (terms must be reasonable to court’s decision)
Terms are divided to two:
Condition – Something which is very important (can terminate, sue for damages)
Warranty – Something that is less important (can only sue for compensation)
Anticipatory Breach: U can foresee the contract will be breached (breach occurs before the actual date of performance)
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