THE INTERNATIONAL COMMERCE & LAW REVIEW (무역상무연구)

The Korean Research Institute of International Commerce and Law (한국무역상무학회)
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A Study on the Buyer's Right of Reducing the Price in International Sale of Goods

국제물품매매에서 매수인의 대금감액권에 관한 고찰

  • 하강헌 (영산대학교 국제무역학과)
  • Received : 2016.08.10
  • Accepted : 2016.08.26
  • Published : 2016.08.31
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Abstract

CISG Article 50 contains the remedy of price reduction but limits it if the seller has a right to cure. Reduction of price presupposes that the seller delivers non-conforming goods, and that the buyer decides to accept them nevertheless. The remedy of price reduction differs from all other remedies provided in CISG with regard to it effects and to the time-limits. As to the time-limits, unlike Articles 46 and 49, Article 50 does not contain the element within a reasonable time. CISG imposes no period of time for his reducing the price. The buyer's right to declare a reduction of the price is expressly subject to the seller's right to remedy any failure to perform his obligations pursuant to Articles 37 and 48. The problem lies in determining from where to take the figures for comparing the value of the goods contracted and of those delivered. The price level in this place will usually determine his considerations as to resale or repair of the defective goods. The buyer must examine the goods, or cause them to be examined, within, as short a period as is practicable in the circumstances. The buyer loses the right to rely on a lack of conformity of the goods if he does not give notice to the seller specifying the nature of the lack of conformity within a reasonable time after he has discovered it or ought to have discovered it.

Keywords

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