QUESTION 1

a)Why was the Convention on Contracts for the International Sale of Goods developed? Explain. 4 Marks.

b)Your supervisor states that each Canadian province has two types of Sale of Goods legislation. Are they correct? Explain. 6 Marks

QUESTION 2

a)After the contract for the sale of goods is finalized additional third-party contracts are usually required by one or both of the parties to the primary contract. Describe what these additional contracts cover, and why they may be required. 6 Marks

b)Letter-of-credit transactions have two fundamental legal characteristics. Identify and briefly describe these basic legal principles. 4 Marks

QUESTION 3

a)Defective manufactured products can result in harm to consumers. Briefly describe how governments in Canada and the US have addressed this issue.4 Marks

b)In order to obtain a patent on an invention, three conditions must be demonstrated in connection with the invention. explain to a first year student in business what these conditions cover. 6 Marks

QUESTION 4

a)Your company in Canada is considering building a new $20,000,000 factory in Chile. According to the textbook, what is likely to be the greatest risk associated with such an investment? 2 Marks

a)Your company understands that Canada has a bilateral investment treaty with Chile. Briefly describe four significant provisions that might be covered in such an agreement. 8 Marks

QUESTION 5

a)Briefly describe and explain the options available to a multinational corporation for settling international business disputes it has with a supplier. 10 Marks