Liability for Breach of Contractual Obligations in International Sales of Goods

This graduate paper is aimed at considering the applicable international law and national legislation in the resolution of disputes in foreign trade contracts. The main objectives of the paper are: (a) studying of foreign trade contracts and their features; (b) considering of the subjects of the contract for the international sale; (c) analysis of conditions for the liability of the buyer and the seller for breach of obligations under the contract; (d) the definition of the procedure for determining the applicable law. The paper consists of an introduction, three chapters, eight paragraphs, a conclusion and a bibliography. Chapter I considers the peculiarities of legal regulation of contracts for the international sale, the legal status of the parties to a foreign trade contract and the basic conditions of the international contract. Chapter II is dedicated to legal consequences of non-compliance with the terms of the contract for the international sale. Subject of this Chapter research includes: fundamental breach of contract international sale, the legal consequences of breach of obligations under the contract the seller and the buyer. Chapter III gives attention to analysis of the terms and procedure for the resolution of disputes of a foreign trade contract. Based on this research the following conclusion was made: the foreign trade contracts in the Russian Federation are regulated by both national legal regulations and international treaties, universally recognized principles and trade usages.