The head of the marketing department at a Winery, your employer, has asked for you to explain and advise on what should be included in a contract to sell a blend of California wines, probably to be shipped to your buyer, California Wine Importers, in Hong Kong in an ocean-worthy container. You do not need to concern yourself with pricing details, but you have been asked to explain how your winery might use legal tools to manage the risks of this sale of goods. Explain:
sources of law that might be specified in a choice of law clause, which you might advise, and why,
how the bill of lading works and what risks it addresses, and
how the trade acceptance (time draft similar to the bill of exchange) works and what risks it addresses.
Omit discussion on letter of credit for this memo.