Sales on the basis of price Open Study in the light of the Trade Act of the American uniform and the UN Convention for the International Sales | ||
| journal of legal sciences | ||
| Article 1, Volume 29, Issue 1, August 2014, Pages 1-23 | ||
| Abstract | ||
| I like the appearance of the term price Open ((open price contract departure from the dramatic to the general rules in the sales contract, under which is determining the price an order substantially in the contract and force. Then the contract where the price is open to be null and void, and shall have no legal effect. But with the rapid development of trade, became fixed schedules of goods and products and their price statement is obsolete. Where he became the need for flexibility in volatile markets, a very important issue, especially with the parties to the contract to try to reduce the risk due to the fluctuation of prices. And perhaps no global phenomenon illustrates the need to develop special provisions of the contract on the basis of price Open (from fluctuations in crude oil prices), where prices rose as much as three – fold, with increasing demand from what it was in the nineties where intervened political volatility in changing the map of the Petroleum Exporting Countries, as well as case for the growing demand for refined gasoline, which saw demand drastic fluctuations represented an increase of the average retail price per gallon of gasoline by about 250% for the period from 1995 to mid – 2005. Such an increase in prices to be disastrous in the long term for the supply contracts between oil refiners and traders if it has been determined expensive time of the conclusion of the contract and in the middle of the nineties of the last century, which means the bankruptcy of those companies after several years because they did not expect for such mutations in oil prices, while traders reap profits from the sale of plentiful gasoline at more than double the cost in the market, especially with the recent willingness to pay more than the price. These differences in prices could easily arise in the long term in the contractual relations based on the sale of goods. From here, the solution is to resort to price the open condition as a substitute for determining the price of a fixed time of conclusion of the contract for the goods will be exported in the future. From here came this research highlights even in a simple form on this type of contract that leaves the price open. | ||
| Keywords | ||
| Sales on the basis of price Open Study in the light of the Trade Act of the American uniform and the UN Convention for the International Sales | ||
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