Friday, April 26, 2019

Business law Essay Example | Topics and Well Written Essays - 500 words - 13

Business law - Essay Example150). The Islamic doctrine would however not declare under the CISG because the convention overrules application of regional laws in international transactions (Schaffer, Agusti and Earle, p. 120).In the case, Bende made a contract with Ghanaian government for deliverables at a price of $ 158500. He then subcontracted to Kniffe who was to deliver the goods at $ 95000. Kniffe however failed to make delivery as the carrier train had derailed.Kniffes claim that the contract had been rendered unfeasible is valid because the train wreck was unforeseeable and beyond his control. However, the performance is not excused because of the no outcome majoure clause that was contained in the contract sustains liabilities. The wreck was however unforeseeable (Fox, p. 143).Bende would be entitled to damages of $ 44685. This would let in lost profit to which he would be entitled. This is due to compensatory damages doctrine that provides for a partys restoration to the position he would have been had a contract been fulfilled. This includes profitability (Fox, p. 60).If the parties had agreed that Kniff would merely channelize the goods then the risk would shifted from Kniff to either the buyer of Bende, depending on the original contract because property would have transferred to him (Schaffer, Agusti and Earle, p. 728).The importer is in all probability to win the case. This is because of two factors, the open price term of the contract and the force majoure clause that applies to contracts that have been rendered impossible. chthonic the open price term, the distributer is bound by the contractual terms that were entered into during contract formation. The force majoure clause also suspends any liability over contractual obligations when activities have been rendered commercially impossible. Adversely unfavorable property fluctuation, being identified as a factor towards the clause, therefore releases both parties from any liability from t he contract. Consequently, the

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