1. Article 5 of the CISG limitsthe liability of the seller for death or personal injury caused by the goods to any person to $5,000.

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2. Under the CISG, if a party to a contract doesn't have a place of business, reference to it will be assumed to be his residence.

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false 3. Under the CISG, contracts must be in writing to be enforceable.

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false 4. Under the CISG, an offer becomes effective when it is received by the offeree.

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5. ABC, a U.S. company sends by fax an offerto sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget. Before answering to accept, ABC changes its mind and sends a fax revoking the offer. XYZ can still accept and bind ABC to a contract under the CISG.

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false 6. ABC, a U.S. company sends by fax an offerto sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget.XYZ sends back a counter offer of $.75 a widget. ABC rejects the counter offer and sells the widgets to GHK Inc. instead. XYZ then sends an acceptance of the original offer of $1.00. ABC has a contract with XYZ and must give them the 1,000,000 widgets for $1.00 a wideget because they accepted the offer.

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7. ABC, a U.S. company sends by fax an offerto sell to XYZ, a French company, 1,000,000 screwdrivers for $1.00 a screwdriver. XYZ sends back an acceptance stating that it will buy them if 2,000,000 two inch screws are included.A contract has been formed.

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false 8. Provided the contract doesn't specifiy otherwise, a contract can be modified or terminated bymutual agreement of the parties.

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false 9. ABC, a U.S. company sends by fax an offerto sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget. XYZ sends a rejection of the offer which ABC receives on Monday. XYZ then changes its mind and sends an acceptance on Tuesday. There is a contract.

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10. If an offeror makes an offer to an offeree and states that he will keep the offer open or that it is irrevocable for three days, then he may not revoke it for three days.

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