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")
The UCC
U.S. Common Law
The CISG as ratified by German Civil Law
None of the Above
The UCC
U.S. Common Law
Ontario's domestic "Sale of Goods Act"
None of the Above
The UCC
U.S. Common Law
The U.K.'s Sale of Goods Legislation
The CISG
The Uniform Commercial Code (UCC)
The Law of Singapore
U.K. Sale of Goods Legislation
None of the Above
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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