The large influx of shrimp imports into the United States from Asia and Latin America depressed wholesale
Question:
The large influx of shrimp imports into the United States from Asia and Latin America depressed wholesale prices by over 40 percent between 1997 and 2002. Despite such lower prices, shrimp entrées at some U. S. seafood restaurants rose by about 28 percent during the same period. Discuss why prices (e.g., shrimp prices at seafood restaurants) are not aligned with costs.
A seller agreed to deliver 300 tons of coffee to a buyer, FOB port of Montreal, Canada. The goods were transported and unloaded at the port and kept at a customs shed for inspection and payment of duties. The buyer was notified of the arrival of the merchandise and its location. Before the buyer picked up the goods, the customs shed (including the merchandise in it) was destroyed by fire. The buyer claims refund of the purchase price stating that she did not receive the goods. Is the seller responsible? With reference to the question, would the outcome be different if the contract had been DPU port of Montreal?
A seller in New York agreed to ship goods to a buyer in Lima, Peru under a CIF contract. The goods were loaded on the ship and the seller tendered the necessary documents to the buyer for payment (in New York). The buyer refused payment, claiming that it will only pay after inspection upon arrival of the goods at the port of destination. Is the seller entitled to payment before arrival of the goods?