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
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234