Where an insurer has paid for a loss that arises in the context of a sale of goods between parties in two different countries, the recovery potential of a subrogation action may depend on the choice of law governing the purchase agreement. Yet, determining the proper law of an international sales contract can be a tricky proposition. Subrogating insurance professionals should be aware that even when the law of a contract seems to be clearly stated, the outcome may be counter-intuitive.
We have put together this quiz to allow you to test your knowledge - see if you are able to correctly assess the proper law of a sales contract in the following scenarios:
TO TEST YOUR KNOWLEDGE, PRESS "START QUIZ" BELOW:
The U.S. Uniform Commercial Code ("UCC")
U.S. Common Law
Chinese Law
The United Nations Convention on Contracts for the International Sale of Goods ("CISG")
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The Uniform Commercial Code (UCC)
The Law of Singapore
U.K. Sale of Goods Legislation
None of the Above
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The UCC
U.S. Common Law
Ontario's domestic "Sale of Goods Act"
None of the Above
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Consideration is necessary in order to form a binding sales contract.
Acceptance of an offer occurs when it is received by person who has made the offer.
A sales contract does not have to be in writing.
Extrinsic evidence can be used to alter, contradict or explain the terms of an unambiguous written contract
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The UCC
U.S. Common Law
The U.K.'s Sale of Goods Legislation
The CISG
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Quiz Review Timeline (Updated): Mar 21, 2023 +
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