Dispute Settlement Mechanism

-Dispute Settlement Mechanism

*note:

1.

2. which WTO rules are breach

3. exceptions (see whether any of the exceptions apply)

i.e.: Malaysia and Singapore signed an agreement on the haze issue

4. If u discuss 1 & 3, u must bring in TBT

5. Procedures

Lecture 4&5 Contracts for the international sale of goods

Goods here refers to movable properties (lands, buildings, assets are not goods)

*note:

1. would it be bangla law or international law?

2. choice of forum – which court

3. Incoterms 2010 shall apply – model of terms (contractual terms), certain standard of terms universally applicable

4. Vienna Convention 1980 – international law

5. Obligations: things ur obliged to do

SOGA – Sale of Goods Law (with regards to selling and buying goods)

Breach of contract: One of the term in the contract is not fulfilled

Fundamental breach – major breach

Seller’s remedies – what does the seller wants (obviously buyers have breached contract i.e. non-payment, late payment, lack of information)

Buyer’s remedies – what does the buyers wants (obviously sellers have breached contract i.e. fulfilment)

***passing of risk & property

passing of property means ownership passes

when ownership passes, risk could also be passed (risk: responsibilities)

reservation of title (ownership) clause: seller wants to retain ownership until payment is made WHY? Seller does not wants the goods to be used by the creditors against a bankrupt buyer

force majeur: something happened beyond human control i.e. natural disaster

essential elements: must have those elements otherwise it’s not a valid contract

offer: intention to do something (cf – contrast further) , invitation to treat (just information), supply of information (enquiry and supply of information has no contract), advertisement

acceptance: when a party agree to provide

counter-offer: when a buyer change the price (i.e. car is 100k offered by seller, buyer replied by countering offer of 80k) *** when u counter offer, current offer are not valid anymore.

Consideration: something given by the person accepting to the person making the offer – usually in the form of money

Certainty: contract must be clear i.e. car, what model, how many units, price etc

Once all of the elements is satisfied, it is a contract.

Every Contract has this these three stages:

1. Is there a contract? (If there’s no contract u have no rights)
2. Is there a breach? (to know u gotta see what does the contract say
3. If there’s a breach, what are the remedies u want?

Can terms be inserted after formation? (the moment offer accepted, it means there is an agreement) – NOPE

If there’s a clause stating subject to change, they can change (terms must be reasonable to court’s decision)

Terms are divided to two:

Condition – Something which is very important (can terminate, sue for damages)

Warranty – Something that is less important (can only sue for compensation)

Anticipatory Breach: U can foresee the contract will be breached (breach occurs before the actual date of performance)