Product liability fall under torts. The tort of product liability can be defined as a manufacturer’s or seller’s liability for any damages or injuries suffered by a buyer, user, or bystander as a result of a defective product. Products and services are becoming sophisticated, for instance, what used to pass for a mobile phone 10 …
PRODUCT LIABILITY here is how you sue or get sued Read More »
Most of the time when talking to people about business agreements the conversation often ends up being summed up as, “if I didn’t sign anything then we did not have an agreement” which is to say that in the mind of most people, a contract is whatever is signed. Well the truth is far from …
In import export business it may be case that the buyer and the seller do not know each other very well. In this case a letter of credit may help iron out payment issues, assuming the parties understand what letters of credits (LOC) are and how they work. This payment method is only applicable in …
When transacting internationally, there are certain risks two of which are payment reliability and whether or not you will get what you have asked for. Collection agreements, that is, documentary collection is one of the common methods that the parties can use. Collection arrangements are governed by international regulations sponsored by the International Chamber of …
For most people the terms like guarantee and warranty have no difference and that just means using them interchangeably but of course there is a difference which is what we are to look at in this post. WHAT IS A WARRANTY? When suppliers or sellers talk about warranties, they are talking about a promise to …
ELEMENTS OF A VALID OFFER AND MANAGING CONTRACTUAL RISKS Contracts are important in business deals for they not only make reference to documents used in business agreements, they summarize the duties obligations and expectations of the parties contracting as well. Usually for a contract to be valid one party makes an offer and the other …
