Term
| Choice-of-language clause (412) |
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Definition
| a choice designating the official language by which the contract will be interpreted in the event of disagreement. |
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Term
| Choice-of-law clause (412) |
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Definition
| a contractual provision designating the applicable law is typically included in every international contract. |
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Term
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Definition
| a sequence of previous actions and communications between the parties to a particular transaction that establishes a common basis for their understanding. |
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Term
| Course of performance (408) |
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Definition
| the conduct that occurs under the terms of a particular agreement. |
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Term
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Definition
| arises when a merchant-offeror gives assurances in a signed writing that the offer will remain open. |
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Term
| Force majeure clause (413) |
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Definition
| every contract, and particularly those involving international transactions. The meaning of the French term force majeure is impossible or irresistible force-sometimes loosely defined as an act of God. |
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Term
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Definition
| a lessor and lessees bargain with respect to the lease of goods, as found in their language and as implied by other circumstances. |
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Term
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Definition
| one who acquires the right to the possession and use of goods under a lease. The lessee is the party who is leasing the goods from the lessor. |
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Term
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Definition
| one who transfers the right to the possession and use of goods under a lease. |
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Term
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Definition
| when she or he, acting in a mercantile capacity, possesses or uses an expertise specifically related to the goods being sold. |
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Term
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Definition
| the seller agrees to sell and the buyer agrees to buy all or up to a stated amount of what the seller produces. |
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Term
| Predominant-factor test (395) |
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Definition
| used to determine whether a contract is primarily for the sale of goods or for the sale of services. |
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Term
| Requirements contract (400) |
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Definition
| the buyer agrees to purchase and the seller agrees to sell all or up to a stated amount of what the buyer needs or requires. |
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Term
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Definition
| the passing of title (evidence of ownership rights) from the seller to the buyer for a price. The price may be payable in cash or in other goods or services. |
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Term
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Definition
| contracts for the sale of goods. |
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Term
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Definition
| (within a reasonable amount of time) notifies the buyer that the nonconforming shipment is offered only as an accommodation, or as a favor. |
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Term
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Definition
| has physical existence- it can be touched or seen. |
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Term
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Definition
| any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with repect to the transaction in question. |
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