Paradoxically, this would have the effect of immediately protecting the vendor rather than the other contracting partner.

Finally, though the requirements of the notice should not be too burdensome for the buyer, they should allow for an adequate redress action by the seller.

The buyer, a British Columbia based producer of styrofoam blocks, purchased over Canadian  800,000 of equipment manufactured by the Austrian subsidiary of the German seller.

The seller had therefore the right to declare the contract avoided under article 64 CISG and to claim damages in the amount corresponding to the difference between the contract price and the price of the substitute transaction under article 75 CISG.

Finally, the Court of Appeal stated that from the oral negotiations between the parties it was clear for the buyer that the defendant would have entered into a contract only under condition that the buyer would be accepted by the seller's credit insurance.

The insolvency law should provide that, in the case of insolvency proceedings with respect to a buyer under a title retention arrangement, a grantor or a financial lessee, the seller, purchase money lender or financial lessor has the rights and duties of a holder of a security right.