This is Argyn's blog. I comment on topics of my interests such as software, math, finance, and music. Also, I write about local events in Northern Virginia, USA and all things related to Kazakhstan

Tuesday, November 20, 2007

Passing of Risk in International Sales of Goods

The passing of risk is one of the classic topics of sales law. It is also one of the main preoccupations of the parties in international sales transactions. The practical needs of international transactions differ widely from the established concepts of national sales law. The UN Sales Convention made a fresh start on the passing of risk problem with an original approach differing remarkably from conventional wisdom, yet trying to be close to practical needs.

The aim of this paper is to explain the new system and its policies against the background of comparative national law, international trade usages, and the instruments of internationa1 transport. It does not attempt to give an exhaustive account of all the problems connected with the passing of risk. In particular, it leaves aside the effect of the seller's breach of contract on passing of risk, a problem which is alluded to in Art. 70 of the UN Sales Convention and can only be dealt with properly in the context of remedies of the buyer.

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