Contracts and Sales of Goods

Overview

What you will study

In Australia and many other countries, contract law refers to the legal guidelines that regulate agreements between parties. A contract is usually legally binding when the following features are present: an agreement (offer and acceptance); consideration (stipulated return for what is received); intention to form a legal relationship (parties have the intention of legal consequences); and capacity of contractual parties (ability of parties to enter into the contract). However, the nuances of contract law vary substantially depending on the country. When conducting business internationally, often the Contracts for the International Sale of Goods (CISG) treaty is applied. This treaty, or formal agreement between states, ensures there is a uniform standard of laws to follow for the contracting parties regardless of their own domestic contract laws. Throughout this Contracts and Sales of Goods course offered by CQUniversity Australia , you will learn not only about the fundaments of contract law in general but also about the CISG and how it applies to your business when conducting international business.