BUS430 Week 5 Individual Assignment Natural Gas Case Study

BUS 430 Week 5 Individual Assignment Natural Gas Case StudyThe convention on Contracts for the International Sale of Goods (CSIG) provides a framework for general standards of performance for the buyer and the seller. The buyer and the seller are entitled to receive what they expect from a contract. If either party fails to deliver as expected, they are in breach of contract. The possibility of a breach of contract creates a risk in any transaction.· Read case 10-5, The Natural Gas Case, in International Business Law. In 700 to 1,050 words address the following:· Summarize the facts of the case.o What is at risk for the seller, for the buyer, and in general?o What was the outcome?· Provide an explanation of the issues in the case using international law.o Had the buyer breached by not obtaining the letter of credit?o Had the seller breached?o Was the contract avoided?o Was the buyer entitled to lost profits?o Had the buyer failed to mitigate?o How may these risks be minimized?