Asked by Matthew Payeff on Apr 29, 2024
Verified
Granos de Café S.A., a Columbian company, and Hot Drinks Inc., a U.S. firm, contract for a sale of coffee beans. Granos does not deliver. Under the United Nations Convention for the International Sale of Goods, Hot can recover as damages the difference between
A) any loss avoided and any profit gained.
B) the actual price and the hoped-for price.
C) the contract price and the market price.
D) the market prices in the contracting parties' places of business.
United Nations Convention
An international treaty formulated and adopted by the United Nations and its member states, focusing on specific areas of law or social concern.
International Sale of Goods
Transactions involving the sale of goods between parties located in different countries, governed by international agreements and laws.
Market Price
The current value at which an asset or service can be bought or sold in a market.
- Grasp the specifics of the United Nations Convention for the International Sale of Goods (CISG) on contract performance, breach, and remedies.
Verified Answer
TS
Taylor SweeneyApr 30, 2024
Final Answer :
C
Explanation :
The United Nations Convention for the International Sale of Goods (CISG) allows a buyer to recover damages equal to the difference between the contract price and the market price. This is to put the buyer in as good a position as if the seller had performed the contract.
Learning Objectives
- Grasp the specifics of the United Nations Convention for the International Sale of Goods (CISG) on contract performance, breach, and remedies.