The defendant purchased sewing machines from a Swiss manufacturer in Swiss francs. The machines were imported into
Question:
1. What were the importer's two arguments in this case? How did the court address each?
2. What is the effect of the fact that just prior to executing the contract, the dollar had fallen by 7 percent against the Swiss franc?
3. In any international business transaction, which party assumes the exchange rate risk?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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Related Book For
International Business Law And Its Environment
ISBN: 9781305972599
10th Edition
Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge
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