386. Evolution and purpose of international sale contracts.

The commonest forms of transaction, or at any rate those which in modern practice present the greatest legal complication, are cif (cost, insurance and freight)1 and fob (free on board)2 contracts and various modifications of these classic types3. The commercial reason for their evolution lies in the length of time taken in the carriage of goods by sea. It is to the advantage of neither seller nor buyer that the goods the subject matter of the contract should remain outside commerce while they are in course of shipment. It is in the seller's interest to receive the money equivalent of the