Law of International Trade Element Essay Example | Topics and Well Written Essays - 2000 words

Law of International Trade Element - Essay Example to the rule under CIF contract the end consignee cannot reject the bill after its payment, despite unknowingly having no ideal due to the changed information. Nevertheless, there had no additional clause to exclude any transaction with the original shipper. He is hence left with accusations of the carrier which lie on false deceit and breach of contract for delivering false representation. The arising issues from the problem scenario between the original owner (Li) of the brown sugar goods and the last buyer (Xu) were as a consequent of rushed sales where an opportune buyer existed. The second seller (Chen) sought to sell the goods to Xu who allegedly had developed some poor reputation for any transaction with Li, due to poor delivery timing. The problems addresses the bill of lading, specifically the misconception of the actual shipper of the goods, accuracy in the bill of lading, and the issue of one bill at the time of payment in the agreed cash against documents transaction. The sellers of the goods under CIF contract have specific obligations they are required to fulfill with respect to shipment of the sold items at the load port. Under the CIF contract, the shipping documents and in this case the bill of lading is very crucial o enable future transactions of the buyer concerning the goods being shipped. The seller is responsible of acquiring or preparing the correct shipping documents and tender them to the consignee (buyer) to an individual he has nominated (Galdes, 2001). With respect to this statement both the sellers had made efforts to obtain the bill of lading for their buyers. Chen used the shipping documents that had been delivered to him from Li and no matter the hurry to sell the goods Xu while they were still on shipment, a bill of lading was presented to Xu. The seller had accomplished his mission in shipping the document though a single one. The other duties of the seller concern the shipped goods to the destination port. The seller is