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As specified in the lw-glo notes pg.33,
Agreements should be supported by consideration.Is it necessary for the consideration to be monetary in an agreement?
UNCISG Contracts specifies for monetary consideration as mentioned in the notes.
Hi Tabsumze,
When it comes to international Sale of Goods, then yes there needs to be an exchange of value (consideration). Specifically there needs to be a transfer of property to the buyer for monetary compensation called the price.
I hope this helps clarify.
Kind regards,
Vijay
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