Convention on Contacts for the International Sale of Goods

The video tutorial explains the CISG, a Model Law for international transactions, also known as the Vienna Convention. It was created by the United Nations to facilitate cross-border transactions. The CISG provides a framework similar to the Uniform Commercial Code in the U.S., covering offer acceptance, performance requirements, and remedies. It is widely adopted by signatory states and promotes international trade by providing a common understanding of applicable rules.

Why is the CISG considered beneficial for international commercial transactions?

What is the significance of the number of member states that have signed the CISG?