The States Parties to this Convention,
Bearing in mind the broad objectives in the resolutions adopted by the sixth special session of the General Assembly of the United Nations on the establishment of a New International Economic Order,
Considering that the development of international trade on the basis of equality and mutual benefit is an important element in promoting friendly relations among States,
Being of the opinion that the adoption of uniform rules which govern contracts for the international sale of goods and take into account the different social, economic and legal systems would contribute to the removal of legal barriers in international trade and promote the development of international trade,
(1)
The buyer may declare the contract avoided:
(a)
if the failure by the seller to perform any of his obligations under the contract or this Convention amounts to a fundamental breach of contract; or
(b)
in case of non-delivery, if the seller does not deliver the goods within the additional period of time fixed by the buyer in accordance with paragraph (1) of article 47 or declares that he will not deliver within the period so fixed.
(2)
However, in cases where the seller has delivered the goods, the buyer loses the right to declare the contract avoided unless he does so:
(a)
in respect of late delivery, within a reasonable time after he has become aware that delivery has been made;
(b)
in respect of any breach other than late delivery, within a reasonable time:
(i)
after he knew or ought to have known of the breach;
(ii)
after the expiration of any additional period of time fixed by the buyer in accordance with paragraph (1) of article 47, or after the seller has declared that he will not perform his obligations within such an additional period; or
(iii)
after the expiration of any additional period of time indicated by the seller in accordance with paragraph (2) of article 48, or after the buyer has declared that he will not accept performance.
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