① dumping: According to the new antidumping code of GATT, It means selling at less than fair valued ② product liability: the liability—usually strict liability—of manufacturers for damage caused by defects in their products ③ default: failure to fulfill a legal obligation, such as performing a contract, paying a debt... ④ fair market value: same as market value ⑤ Warranty: a sellers assurance that the goods meet certain standards ⑥ privity of contract: the state of two specified parties being in a contract ⑦ countervailing duty: same as antidumping duty This is the end of Chapter 22 * * * * Chapter 22 Some Important Laws Affecting Foreign Trade 影响对外贸易的一些重要法律 有关背景与业务知识的必要补充 2.1关于产品责任法中的有关货物质量的两种默示担保 There are two implied warranties of the quality of goods: the waoranties of merchantability, and of fitness for a particular parpose, which are imposed on the seller of goods by operation of law (法律的实施) unless they are excluded or modified by the contract of sale. 有关背景与业务知识的必要补充 2.2对implied warranty of merchantability 商销性默示担保的详细解释 The implied warranty of merchantability is made by merchants dealing in goods of the kind sold, and means that in order for the goods to be up to the warranted standard they must: (1) pass in the frade under the contract description; (2) be of fair average quality with in the contract description if they are fungible goods(可互换/可替代货物);(3) be fit for the ordinary purposes for which such goods are sold; (4) be of even kind, quality, and quantity within each unit and among all units involved; (5) be adequately contained, packaged, and labeled; and (6) conform to promises or affirmations of fact, if any, contained or the label or container. New words New Words 1. to subsidize vt. 补贴=to did or support with a subsidy 2. simultaneous a. 同时的,同时发生的=occurring, done, crexisting at the same time? 3. to stipulate vt.vi. 规定=to specify as the provision in a law? 4. casual a. 偶然的,非事先安排好的=occurring by chance or accidental? 5. to suspect vt. 怀疑=to th
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