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Saturday 10 August 2013

Contractual Provisions Affecting Remedies

Contractual Provisions Affecting Remedies
üLimitation of Damages.
üLimitation of Remedies.
üWaiver of Defenses.
Lemon Law
The majority of the states have enacted lemon laws in regard to automobile sales.
Seller’s limitations were too “good.”
Buyer must:
§Give notice.
§Seller gets four chances to fix.
§Arbitration: decision binding on manufacturer, not on Buyer.
Remedies for Breach of International Sales Contracts
CISG provides remedies similar to the UCC.
Article 74 provides for money damages, foreseeable consequential damages.
§Damages are difference between contract price and market price.
Article 28 provides for specific performance where a country would normally grant it in their own law.

Parties can agree to what law they will use.

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