INTERNATIONAL CONTRACTS 1. Set out with precision the obligations each party undertakes. 2. Allocate the risks of transaction between the parties to contract. 3. Set out the choice of law and choice of forum clauses. Remedies for breach : - Money damages - Specific Performance - Injunction

International Contracts I. Applicable law - National Law OR Law of the place where Contract was made -"- -"- -"- -"- -"- -"- was performed -"- -"- -"- -"- -"- -"- to be performed Place of payment Place of breach

The professor of a contract law class asked one of his better students, "If you were to give someone an orange, how would you to about it?” The student replied, "Here's an orange." The professor was outraged. "No! No! Think like a lawyer?" The student then replied, "Okay. I would tell him I hereby give and convey to you all and singular, my estate and interests, rights, claim and advantages of and in, said orange, together with all its rind, juice, pulp, and seeds, and all rights and advantages with full power to bite, cut, freeze and otherwise eat, the same, or give the same away with and without the pulp, juice, rind and seeds, anything herein before or hereinafter or in any deed, or deeds, instruments of whatever nature or kind whatsoever to the contrary in anywise notwithstanding..."

United Nations Commission on International Trade law The CISG- United Nations Commission on International Trade law - 26 nations have ratified including Socialist countries such as China, Civil law countries such as France and Argentina and Common law countries such as the U.S. - Uniformity - Only for sale of Goods and not services. Technology, leases, licenses, Joint ventures and Investment agreements. - The CISG provides a set of uniform rules for the formation of contracts between merchants and a set of uniform rules establishing the obligations of the buyer and the seller in a transaction for the sale of goods.

-. Frigaliment Importing Co. Ltd. V/s. B. N. S - Frigaliment Importing Co. Ltd. V/s. B.N.S. International Sales Corpn. 190 F. Supp. 116 (S.D.N.Y. 1960) (The Chicken Case) - CISG requires the Seller to deliver the goods, hand over documents relating to them and transfer the property in Goods and Buyer to Pay Price take delivery.

COMMERCIAL TERMS - Create delivery obligations, title implications and allocation of the risk of loss - International Commercial Terms 1990- 13 terms EXE : Ex Works Seller to make the goods available at the named factory or warehouse. DDP : Delivery Duty Seller to arrange the shipping, obtain any Paid permits, pass the goods through customs and deliver them to the named point. F : Free Seller to get the goods to a shipment point. C : Cost Seller to get the goods to a named place and pay costs

FOB : Free on Seller is responsible for the goods until they are on board the carrier's vessel FOS : Free on Seller to get the goods to the Dock alongside a named ship FCA : Free Carrier Seller to deliver the goods in the custody of a carrier at a named point. CIF : Cost Insu. Seller agrees that the price of the goods includes Price Freight the selling cost, insurance for transit, the cost of (Risk of Transport freight with the Seller) CPT : Carriage paid Seller to pay the cost of transport to the To named point.