Problem
I. What are the sources of transnational commercial law? (UG)
II. Explain the main difference between hard law and soft law instruments, and list two examples of each as well as the organizations behind the instruments.
III. Of the following cross border transactions, identify those to which the CISG does not apply and explain why (in each case, assume that the contract does not include an opt-out clause and that no other rules of private international law apply):
Christie's, an auction house in New York City, sells to Ms. Contessa, a wealthy heiress who lives in Milan, Italy, a Fabergé egg in an auction.
Drive-Well Corp., a Tucson-based car dealer, purchases a fleet of new Land Rover SUVs from a U.K. manufacturer for sale in the its new Los Angeles office.
IV. Of the following issues to which do the INCOTERMS not apply? Explain why.
Using the same scenario, assume that 4 cars transported in a single container got damaged. Who is responsible for the damage? Who should have insured the goods against damage?
Drive-Well Corp., a Tucson-based car dealer purchases a fleet of new Renault SUVs from a Paris-based manufacturer for sale in its new Los Angeles office. The contract indicates that "time is of the essence" in the performance of the contract and that all the cars delivered must be silver. The cars were delivered on time, but a third of the cars had brown paint.
V. Define any two of the following documents used in international transportation of goods, and identify their key features as well as any international instruments (i.e. conventions, rules etc) that apply to them (UG):
i. Sea waybills
ii. Bills of lading
iii. Air waybills
VI. What rules apply to different segments of transportation covered by a multimodal bill of lading?