Law I - Final Exam 2024 With 100% Correct Answers

Are there any required formalities regarding contracts? {Ans: Oral contracts are just as binding as written ones. However, sometimes it is mandatory by law that the contract is in written format, e.g. contracts regarding real estate. From an evidence standpoint, it can also be good if contracts in written form, since it easier then to prove that a contract has taken place.}What is the difference between exclusive and non-exclusive forum selection? {Ans: Exclusive (or mandatory) form selection clause means that disputes covered by the clause can only be resolved in the specified forum (court), and nowhere else. Non-exclusive (or permissive) forum selection clause allows - but does not require- parties to litigate their disputes before the contractual stipulated court.}What is the status of the European Convention for the Protection of Human Rights and Fundamental Freedom in Sweden? {Ans: It has taken time for EU to make Sweden apply the same Human Rights Convention as EU demands, but now the laws are aligned.}What circumstances make it possible to declare a contract avoided under CISG? {Ans: 1. Seller has fundamentally breached the contract. 2. Buyer has fundamentally breached the contract. 3. Anticipatory breach of contract; it is almost