期刊名称：International Review of Management and Business Research
印刷版ISSN：2307-5953
电子版ISSN：2306-9007
出版年度：2021
卷号：10
期号：1
页码：367-374
DOI：10.30543/10-1(2021)-32
语种：English
出版社：Academy of IRMBR
摘要：Price reduction is one of the civil law remedies incorporated in the Vienna sales convention. On the other hand, Pakistan is neither the signatory of the convention nor its national sales law posses this remedy. Therefore a research is highly required to fill this vacuum and find out a solution for international buyer who is involved in trade with parties in Pakistan. Thus the study aims to investigate the suitability of price reduction in compatibility with existing legal regime. The study reveals the raison d'être in contract making via relative analysis of the existence of price reduction as an assurance for performance and certainty. The results depict that adding price reduction as remedy will be a good legal cover to the buyer's claims and a better response to the business practices in Pakistan. Especially, where the buyer is facing difficulties to prove his loss he may simply opt to reduce the price. Hence, study recommends that introducing the 'price reduction' as a remedy in the local legal system will enhance the confidence of a commercial buyer from the international community.
