Trade Law - Essay Example

Only on StudentShare

Extract of sample
Trade Law

(ICC, 2000)
'Under an FOB sale, the buyer is responsible for making the arrangements for shipping the goods to their destination'. (Sassoon, 1995) Thus, it had to be Carlos' obligation to make all shipping arrangements with him being the buyer of the goods. Moreover, according to the FOB contract law, the seller is not under a duty to ship the goods until he has received shipment instructions from the buyer; thus Benny was not obliged to arrange any shipment without Carlos giving him the necessary instructions. It should be added, that this is the Buyer's responsibility to arrange the shipment of goods to the port of destination.
According to s 20 of the Sale of Goods 1979, risk passes with property and in FOB sales risk passes along with property upon shipment - that is, when the goods pass the ship's rail. ...
Download paper


The aim of the paper is to consider the case described in the task and to analyze it through the issues which have arisen in the case; it is essential to apply FOB trade law statements to find the solutions to each issue of the case.
It is essential to note at the beginning of the work that FOB English contract law and INCOTERMS 2000 law are somewhat different in their definition, and thus it will be necessary to use both to come to better solutions, though INCOTERMS is beneficial for better specifying obligations of both parties - the buyer and the seller…
Author : augustine86

Related Essays

International Trade Law
The hunting of seals in Canada in the adjoining waters of the Arctic Ocean is believed to have begun in the 16th century. Seal hunting for commercial purposes grew into an important trade in the 1980s decade in Canada. This mainly includes the Inuit group of people, the residents of Atlantic Canada and also North Canada. The United Nations in its Declaration on the “Rights of Indigenous Peoples” has recognized this seal hunting practice as a means of livelihood for the Canadian residents. According to an estimate in 2005, about 329,829 harp seals were killed by the indigenous people of...
9 pages (2259 words) Assignment
International Trade Law
The terms were also accepted by the Surflife Company and they replied through an email with their expression of happiness with the terms. Although there was no exchange of any other terms, the two parties could be understood to be in terms of an agreement and involved in a contract. However, the problem had arisen in the delivery on part of the PJ Company owing to a mistake occurred by one of the employees of the company who was responsible for the supply of the goods to the customer. The employee, not following the instructions properly, got the wrong orders ready for shipment and supply. The...
8 pages (2008 words) Assignment
Perspectives on International Trade and Finance
Examples of countries that Nike Inc. imports the products from include those in parts of Asia and Taiwan. These products are imported to the United States after which further processing is carried out before exporting them to international markets. These processes involve strategies and marketing processes worth researching. This paper discuses import and export strategies of Nike Inc. that has made it successful in its business gaining fame as a leading multinational company in the world. Table of Contents Executive summary 2 Introduction 4 Import and export strategies 4 Labor specialization...
7 pages (1757 words) Assignment
International Trade and Maritime Law
Carrier is deemed to be in charge of the goods at the time of receipt of goods to the time of delivery....
10 pages (2510 words) Essay
The World Trade Organization
These are just some of important concepts in international business. These concepts are very essential in understanding international business so as to know how it works in the international arena. Furthermore, it is important to understand these concepts so as to understand international business and other activities related to it. There are many issues surrounding international business. Understanding them is as important as learning and becoming a part of the international business ground....
10 pages (2510 words) Case Study
Got a tricky question? Receive an answer from students like you! Try us!