Sales contract in international business transactions

67 SUMMARY International trade is an inevitable part of day-to-day life on Earth. It is important to be aware of the significance of international trade in Europe and of the dependence of relatively small countries on foreign trade. The United Nations Convention on Contracts for the International Sale of Goods (hereinafter referred to as "CISG") has been a great success in promoting and facilitating international trade in goods. As of 1 May 2010 there were 74 states from every corner of the world party to the CISG. Among these are countries from both, industrial nations and developing states. There are of course also several problematic issues concerning the CISG, such as that the CISG is not a "uniform" law for international sale of goods as it was intended to be or that the interpretation of the text differs from country to country. However, the CISG is the uniform international sales law of countries that account for over three- quarters of all world trade (please see Annex no. 1 and 2). The purpose of this thesis is therefore to provide a profound analysis of the CISG in order to prove that the CISG is a modern document which can unify international trade to a great extent and that it should not be overlooked and pushed aside by bussinessmen, attorneys or even judges and arbitrators. The first chapter..