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| A German seller and a Swiss buyer concluded a contract for the sale of valves. The buyer failed to pay the price. The seller began an action to recover the unpaid price.
The Court held that the seller was entitled to payment of the price pursuant to Art. 53 CISG. The Court further held that the seller was entitled to interest on the price (Art. 78 CISG). In the absence of an express provision in CISG, the Court held that the interest rate was to be determined in accordance with the law otherwise applicable to the contract. Furthermore the Court awarded the seller the amount paid to an agent entrusted with the power to collect the outstanding debts as damages. |