b) No requirement for formal notice of default The duty to pay interest does not depend on prior notification of the debtor. With respect to the purchase price, express provisions are laid down in Art. 59 CISG. Questions Q 78-1 Which duty does Art. 78 CISG establish? Q 78-2 On which sums is interest to be paid? Q 78-3 Why has the applicable interest rate not been settled in Art. 78 CISG? Q 78-4 a) When will the purchase price fall due? Cf. thereto Art. 58 CISG. b) Has the question of the point in time at which other monetary obligations fall due been expressly settled in the CISG? c) Why will the debtor who is entitled to withhold its performance (Arts 71(1), 81(2), sentence 2 CISG) not be obliged to pay interest on it? Q 78-5 In the beginning, a topic of dispute was whether a sum must have been made certain (‘liquidated’) in order to be interest-bearing. Can you imagine why there used to be a controversy, due to this uncertainty, about whether damages could accrue or not? (It should be noted that, nowadays, the legal majority does not require a liquidated sum in order to incur interest.) Interest rate C 78-1

DOI link for b) No requirement for formal notice of default The duty to pay interest does not depend on prior notification of the debtor. With respect to the purchase price, express provisions are laid down in Art. 59 CISG. Questions Q 78-1 Which duty does Art. 78 CISG establish? Q 78-2 On which sums is interest to be paid? Q 78-3 Why has the applicable interest rate not been settled in Art. 78 CISG? Q 78-4 a) When will the purchase price fall due? Cf. thereto Art. 58 CISG. b) Has the question of the point in time at which other monetary obligations fall due been expressly settled in the CISG? c) Why will the debtor who is entitled to withhold its performance (Arts 71(1), 81(2), sentence 2 CISG) not be obliged to pay interest on it? Q 78-5 In the beginning, a topic of dispute was whether a sum must have been made certain (‘liquidated’) in order to be interest-bearing. Can you imagine why there used to be a controversy, due to this uncertainty, about whether damages could accrue or not? (It should be noted that, nowadays, the legal majority does not require a liquidated sum in order to incur interest.) Interest rate C 78-1

b) No requirement for formal notice of default The duty to pay interest does not depend on prior notification of the debtor. With respect to the purchase price, express provisions are laid down in Art. 59 CISG. Questions Q 78-1 Which duty does Art. 78 CISG establish? Q 78-2 On which sums is interest to be paid? Q 78-3 Why has the applicable interest rate not been settled in Art. 78 CISG? Q 78-4 a) When will the purchase price fall due? Cf. thereto Art. 58 CISG. b) Has the question of the point in time at which other monetary obligations fall due been expressly settled in the CISG? c) Why will the debtor who is entitled to withhold its performance (Arts 71(1), 81(2), sentence 2 CISG) not be obliged to pay interest on it? Q 78-5 In the beginning, a topic of dispute was whether a sum must have been made certain (‘liquidated’) in order to be interest-bearing. Can you imagine why there used to be a controversy, due to this uncertainty, about whether damages could accrue or not? (It should be noted that, nowadays, the legal majority does not require a liquidated sum in order to incur interest.) Interest rate C 78-1