International Commercial Law - 15

This solved paper has been contributed by Raul Castro

THANKS TO : Raul Castro

--------------------------------------------------------------------------------

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

             

 True/False

  Question        The judges or the arbitrators as they are known, can be of the parties choice.

  Correct Answer         True

             

 Select The Blank

  Question        In legal phraseology there is no privity of ________ between customer and manufacturer

  Correct Answer         Contract

             

 Multiple Choice Single Answer

  Question        The single most important document in International Trade and forms the very basis of a large volume in international trade is

  Correct Answer         L/C

             

 Multiple Choice Multiple Answer

  Question        Product liability is the liability of the producer of a product which, owing to a defect causes

  Correct Answer         Injury to the user , Damages to the user , Loss to the user

             

 Multiple Choice Multiple Answer

  Question        The defect in a product may be in the

  Correct Answer         Lack of quality , Insufficiency in the instruction for use , Failure to give adequate warning of a dangerous propensity of the product

             

 Select The Blank

  Question        Under f.o.b contract the cost of loading is usually included in the ________charges which are to paid by the buyer

  Correct Answer         Freight

             

 Multiple Choice Single Answer

  Question        The use of the marks by others as a trade mark constitutes

  Correct Answer         Infringement

             

 Multiple Choice Single Answer

  Question        The most frequent method of payment for goods is the export trade is

  Correct Answer         Letter of credit

             

 Multiple Choice Single Answer

  Question        The law relating to letters of credit is founded on the principle of

  Correct Answer         The doctrine of strict performance

             

 Multiple Choice Single Answer

  Question        When the seller tenders the goods, buyer is entitled to

  Correct Answer         Opportunity to examing the goods

             

 True/False

  Question        Arbitration has a contract and non judicial element.

  Correct Answer         False

             

 Select The Blank

  Question        Commercial invoice is a basic ________in An export transation

  Correct Answer         Document

             

 Multiple Choice Single Answer

  Question        To avoid anything in the nature of set off or counter claim, a letter of credit is given by a

  Correct Answer         Bank to the seller

             

 Multiple Choice Multiple Answer

  Question        The letter of cradit should state which of the methods have been chosen by the parties namely,

  Correct Answer         Payment at sight , Deferred payment , Acceptance or negotiance

             

 Multiple Choice Single Answer

  Question        The customer and manufacture has no

  Correct Answer         Privity of Contract

             

 Multiple Choice Multiple Answer

  Question        The notice by the buyer to the seller to reject the goods

  Correct Answer         may be givenVerbally , May by telex , May by fax

             

 Multiple Choice Single Answer

  Question        The consumer's main concern is in the

  Correct Answer         Quality of what they are buying

             

 Multiple Choice Single Answer

  Question        Since 1948 GATT has been the main forum for the settlement of

  Correct Answer         International trade dispute

             

 Multiple Choice Single Answer

  Question        Section 104 deals with penalty for

  Correct Answer         selling goods for which false trade mark is applied

             

 Multiple Choice Single Answer

  Question        The expression literary work covers work which is expressed in

  Correct Answer         print or writing

             

 True/False

  Question        Under through Bills of Lading Covering on Carriage by air, the air consignment is a document of title but bill of lading is not.

  Correct Answer         False

             

 Multiple Choice Multiple Answer

  Question        Following word marks other than surnames are registerable. They are

  Correct Answer         Personal names , Geographical names , Names of sect

             

 Multiple Choice Single Answer

  Question        The legal principle that the Bank is entitled ro reject documents which do not strictly confirm with the terms of the credit is the

  Correct Answer         Doctrine of strict compliance

             

 Select The Blank

  Question        Under delivered free duty paid clause, the seeller pays all the charges up to the ________ of the goods at the buyer's address

  Correct Answer         Delivery

             

 Multiple Choice Multiple Answer

  Question        Types of contracts are :

  Correct Answer         Express contract , illegal contracts , Void contracts

             

 True/False

  Question        The floating policy is not a time policy but the aggregation of voyage policies

  Correct Answer         True

             

 Select The Blank

  Question        In some cases, the transaction may not involve a sale. The product may have been ________ or loaned by the owner

  Correct Answer         Leased

             

 Multiple Choice Multiple Answer

  Question        Other documents inluded in the shipping documents are

  Correct Answer         Certificate of origin , Certificate of quality , Certificate of inspection

             

 Select The Blank

  Question        If a claim is founded on fault liability , the claimant has to prove ________ and that the product was at fault

  Correct Answer         Causation

             

 True/False

  Question        The defination of patent includes mere discovery of a scientific principle

  Correct Answer         False

             

 Select The Blank

  Question        The ICC Court of arbitration its seat at the headquarters of the ICC in________

  Correct Answer         Paris

             

 True/False

  Question        The Ex - Ship clause relates execusively to the place of despatching of the goods

  Correct Answer         False

             

 Multiple Choice Single Answer

  Question        where a bill of lading acknowledges the receipt of goods in apparent good order and condition, it is termed as

  Correct Answer         clean bill of leading

             

 Match The Following

Question                                  Correct Answer

A marine insurance policy                               The shipping document

The cost of loading under f.o.b. contract       Paid by the buyer

If the goods are ascertained                            Property in goods passes

Goods found to be not in accordance with the terms of the contract     Buyer rejecting the goods in c.i.f contract

             

 Match The Following

Question                                  Correct Answer

Agreement with minor            Voidable agreement

Consideration                          Cash or kind

Contract                                  Legal obligation

Proposal accepted                   Promise

             

 Multiple Choice Multiple Answer

  Question        The notice by the buyer to the seller to reject the goods should be

  Correct Answer         Clear , definit , Not to be cotradicted by an act

             

 Multiple Choice Single Answer

  Question        A revocable credit may be amended or cancelled by the issuing bank at any moment and without

  Correct Answer         Prior notice to the beneficiary

             

 Multiple Choice Multiple Answer

  Question        A contract may be frustrated because subsequent to the conclusion the govt. has prohibited its performance are

  Correct Answer         By place an embargo on the exportation of the goods sold , By place an embargo on the Importation of the goods sold , By the imposition of restructive regulation regardng Licenses and quota

             

 Multiple Choice Single Answer

  Question        The Society Lloyd's has members like

  Correct Answer         Underwriting

             

 Multiple Choice Multiple Answer

  Question        The buyer is entitled to reject the goods if they

  Correct Answer         Do not correspond with the sample , Are not of merchantable quality , Are not in confirmity of thr terms of the contract

             

 True/False

  Question        Arbitration in the socialist countries are similar in some respects from that in the countries of free economy

  Correct Answer         False

             

 Multiple Choice Single Answer

  Question        Patent once granted for an invention is an intellectual property which remains in force for a

  Correct Answer         Specific period of time

             

 Select The Blank

  Question        The clause Arrival means that the seller has to cause delivery to be madeto the buyer from the ________

  Correct Answer         Ship

             

 True/False

  Question        The buyer is entitled to refuse the acceptance of the goods if they are packed in accordance of his instructions

  Correct Answer         False

             

 True/False

  Question        It is the responsibility of the carrier to arrange the transshipment with the on-carriers.

  Correct Answer         True

             

 True/False

  Question        Where a cargo is a tender in such a manner as to put an ordinary careful insurer on inquriy and he fails to inquire a waiver may be assumed

  Correct Answer         True

             

 Select The Blank

  Question        The container leasing contract providees that the lessee has to pay ________if he retains the container beyond stipulated time

  Correct Answer         Liquidated damages

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Posted in: International Commercial Law(Set-5)

International Commercial Law - 14

This solved paper has been contributed by Raul Castro

THANKS TO : Raul Castro
--------------------------------------------------------------------------------

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

             

 Multiple Choice Single Answer

  Question        The plaintiff must have some badge of recognition upon which to found his

  Correct Answer         Reputation

             

 Multiple Choice Single Answer

  Question        When a contract is made by free consent the contract is

  Correct Answer         Valid

             

 Multiple Choice Single Answer

  Question        A formal receipt by the ship owner acknowledging that goods alleged to be of the stated species, quanitity and condition is a

  Correct Answer         bill of lading

             

 True/False

  Question        The law of products liability governs the public litigation of product accidents

  Correct Answer         False

             

 Select The Blank

  Question        The remedies for infringement of patent are injunction and ________

  Correct Answer         Damages

             

 Multiple Choice Single Answer

  Question        The trading Invoice should state the

  Correct Answer         Name and addresses of seller and buyer

             

 Select The Blank

  Question        The Arbitrations and Conciliation Act, 1996 was enacted taking into account the model law and Rules recommended by United Nation for efficient ________ of disputed arising in international commercial relation

  Correct Answer         Settlement

             

 Multiple Choice Multiple Answer

  Question        Paris convention does not lay down any limits on

  Correct Answer         Duration of patents , Examination and grant of product or process patent , Areas of patentability

             

 Multiple Choice Multiple Answer

  Question        A European Convention on International commercial Arbitration

  Correct Answer         was signed in 1961 in Geneva , came into force in 1984 , was sponsored by the UN economic commission for Europe

             

 Multiple Choice Multiple Answer

  Question        NewZealan prohibits and restricts certain types of paking like

  Correct Answer         The use of hay , The use of chaff , The use of rice husk

             

 Select The Blank

  Question        An implied contract is one which is inferred from the ________ of the parties.

  Correct Answer         Conduct

             

 Select The Blank

  Question        The expression stale bill of lading is used in ________ practice

  Correct Answer         banking

             

 Multiple Choice Multiple Answer

  Question        The efficiency of computers is

  Correct Answer         storing , retrieing , seleting

             

 Select The Blank

  Question        The marine insurance covers all riskof loss or damage to the subject - matter insured except ________clauses

  Correct Answer         Exclusion clauses

             

 Select The Blank

  Question        When the consumer deals with the retailer rather than directly with the manufacture he establishes a ________ relationship

  Correct Answer         Contractual

             

 Select The Blank

  Question        The invoice ________is to be stated as the terms of the contract

  Correct Answer         Price

             

 Multiple Choice Single Answer

  Question        The rights which enable the proprietory of the trade mark to the exclusive use of that trade mark in relation to the goods for which it is registered is

  Correct Answer         Statutory rights

             

 Multiple Choice Single Answer

  Question        In testing wheather an articles infringes a registered designfor that article, the normal starting point is the design as

  Correct Answer         a whole

             

 Multiple Choice Multiple Answer

  Question        The procedural aspect of Gatt Settlement are

  Correct Answer         Notiufication , Consultancy , Arbitration

             

 Select The Blank

  Question        An issue of bill of lading who deliberately backdates it in order to bring it within the shipment time in the credit, acts ________

  Correct Answer         frandulently

             

 Multiple Choice Single Answer

  Question        A contract in which the parties agree that a false invoice be isued is

  Correct Answer         Unenforceable by Law

             

 True/False

  Question        Anticipation is the lack of novelty

  Correct Answer         True

             

 True/False

  Question        A valued policy is a policy which specify the fixed value of the subject matter by the assured

  Correct Answer         False

             

 Match The Following

Question          Correct Answer           Your Answer

The most important institution for the arbitral settlement of International trade disputes     The ICC court

The administrative and financial regulations                          ICSID

European Arbitration                                                              Sponsored by the UN economic commission

The London court of International arbitration                        Sponsored by Chartered Insitute of Arbitration

             

 Select The Blank

  Question        Many national chambers of commerce and arbitration insitutions have agreed to act as ________ under the UNCITRAL Rules

  Correct Answer         Appointing Authority

             

 Multiple Choice Single Answer

  Question        Trade marks, service marks, commercial names and designations are the intellectual property rights under the

  Correct Answer         The world intellectual property organization

             

 Multiple Choice Multiple Answer

  Question        The root requirement in creating the work is

  Correct Answer         sufficient skill, fudgement and labour , selection indgement and experience , selection labour, skill and capital

             

 True/False

  Question        The buyer is entitled to refuse the acceptance of the goods if they are packed in accordance of his instructions

  Correct Answer         False

             

 Multiple Choice Multiple Answer

  Question        The contractual nature of arbituration determines questions , which are not free from controversy . The question are

  Correct Answer         Whether arbitration himself can decide conclusively , whether it the arbitration clause is contained in the original contract , whether the arbitation clause itself is under cloud

             

 Multiple Choice Single Answer

  Question        Contract where both the partners have performed their respective obligations

  Correct Answer         Executed contract

             

 Multiple Choice Multiple Answer

  Question        The London court of International Arbitration includes any question regarding its

  Correct Answer         Existance , Validity , Termination

             

 Select The Blank

  Question        Contracts created by law are called ________.

  Correct Answer         Quasi contract

             

 True/False

  Question        Differences in design which are immaterial are not sufficient to renderthe design New

  Correct Answer         True

             

 Multiple Choice Single Answer

  Question        When placed in the market a defective product that causes injury to human beings the

  Correct Answer         Manufacturer is liable

             

 True/False

  Question        The expression literary work covers work which is expressed in print or writing irrespective of whether the quality or styal is high

  Correct Answer         True

             

 True/False

  Question        The buyer who reject the goods is not bound to return them to the seller unless this is agreed

  Correct Answer         True

             

 Multiple Choice Multiple Answer

  Question        The Lawful consideration means

  Correct Answer         Benefit from one party to other , Advantage from one party to other , Something in return from one party to other

             

 Match The Following

Question                                                                                                          Correct Answer

Stating that the credit is divisible or that it is unrestricted for negotiation    Transferable credit

Letter of credit                                                                                                            Paper transaction

Undertaking by a bank to make payment to a third party                              A stand by letter of credit

Convenient method of finance for the small exporter                                    Packing credit

             

 True/False

  Question        Infringement of patent takes place, normally during Industrial or Commercial activities

  Correct Answer         True

             

 Select The Blank

  Question        The invoice ________is to be stated as the terms of the contract

  Correct Answer         Price

             

 Multiple Choice Multiple Answer

  Question        Kinds of bills of lading are

  Correct Answer         Shipped and received bills , Feright prepaid and freight collect bill , clean and claused bill

             

 Multiple Choice Multiple Answer

  Question        Liability for defective products is based on three principles

  Correct Answer         Strict liability , Qualified liability , Fault liability

             

 Multiple Choice Single Answer

Question     The buyer should make certain that the notice to reject the goods reaches the seller, otherwise it is

  Correct Answer         Ineffective

             

 Multiple Choice Single Answer

  Question        GATT is a multilateral treaty that lays down general rules for the cnduct of

  Correct Answer         International trade relation

             

 True/False

Question     In the United States, most commercial arbitration are governed by the United States Arbitration Act

  Correct Answer         True

             

 Multiple Choice Single Answer

  Question        The trading Invoice should state the

  Correct Answer         Name and addresses of seller and buyer

             

 Multiple Choice Multiple Answer

  Question        The arbitratior as a private judge choosen by the parties must be absolutely

  Correct Answer         Act in accordance with procedural rules, Procedural rules, Giving Fair hearing

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Posted in: International Commercial Law(Set-5)

International Commercial Law - 13

This solved paper has been contributed by Raul Castro

THANKS TO : Raul Castro
--------------------------------------------------------------------------------

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

    

 Select The Blank

Question   The clause Arrival means that the seller has to cause delivery to be madeto the buyer from the ________

Correct Answer   Ship

Multiple Choice Single Answer

Question   The court of Arbitration does not itself disputes but if the parties have not agreed on the arbitrator (s) , the court appoints

Correct Answer   An arbitrator

Select The Blank

Question   Under f.o.b contract the cost of loading is usually included in the ________charges which are to paid by the buyer

Correct Answer   Freight

 Multiple Choice Single Answer

Question   If the carriage of goods by sea are individual pakages, they are carried under

Correct Answer   bill of lading

Multiple Choice Single Answer

Question   The most frequent method of payment for goods is the export trade is

Correct Answer   Letter of credit

Multiple Choice Single Answer

Question   The ICC Court of Arbitration is not a governmental institution but is created by the

Correct Answer   International Chamber of Commerce

 Select The Blank

Question   The shipper is entitled to demand that the bill of lading should be________ correctly

Correct Answer   dated

 Multiple Choice Single Answer

Question   If the parties have arranged a payment at sight credit, the advising bank is instructed to arrange for the payment

Correct Answer   to the seller, due on presentation of their documents

Multiple Choice Single Answer

Question   To avoid anything in the nature of set off or counter claim, a letter of credit is given by a

Correct Answer   Bank to the seller

True/False

Question   Arbitration is the most convenient machinery to settle the dispute.

Correct Answer   True

Multiple Choice Single Answer

Question   For sea transport the international convention is

Correct Answer   the Hague - Vishy rules relating to bill of lading

Multiple Choice Multiple Answer

Question   The London court of Inernational Arbitration is a tripartite organization sponsored by the

Correct Answer   Chartered Insitute of Arbitration , London Chamber of Commerce , The city of London Corporation 

Select The Blank

Question   The ICC Court of arbitration its seat at the headquarters of the ICC in________

Correct Answer   Paris

  Your Answer   Paris

  

 Multiple Choice Multiple Answer

  Question   The shipping document consist of mainly

 

Correct Answer   A clean bill of lading , Amarine insurance policy , The invoice 

 Multiple Choice Single Answer

  Question   The Hague - Visby Ruleshold the carrier liable if he acts

  Correct Answer   Negligently

 True/False

  Question   The frustration occures whenever the Law recognizes that with default of either party a contractual obligation has become incapable of being performed

  Correct Answer   True

 Select The Blank

  Question   In some cases, the transaction may not involve a sale. The product may have been ________ or loaned by the owner

  Correct Answer   Leased

Multiple Choice Multiple Answer

  Question   Where payment under a letter of credit is arranged, the stages can normally be distinguished

  Correct Answer   The exporter and the overseas buyer agree in the contract of sale that payment shall be made under a letter of credit , The overseas buyer instructs a bank at his place of business to open a letter of credit , The advising bank informs the exporter that it will negotiate, his draft upon delivery of the transport document 

 Multiple Choice Multiple Answer

  Question   In stand by letters of credit, the bank may also be instructed to authorise another bank against the stipulated documents to

  Correct Answer   Pay bills of exchange , Accept bills of exchange , Negotiate bills of exchange 

 Multiple Choice Single Answer

  Question   The law relating to letters of credit is founded on the principle of

  Correct Answer   The doctrine of strict performance

Multiple Choice Multiple Answer

  Question   The correct dating of the bill of lading is a important matter. It is material in three legal relationships

  Correct Answer   In the content of carriage , In the contract of sale , In relation to the banks under a letter of credit 

 Multiple Choice Single Answer

  Question   Land transport (Road), the international convention is

  Correct Answer   the CMR

True/False

  Question   In the case of a confirmed credit, the engagement of the advising bank to the beneficiary is not stated in the letter of advise.

  Correct Answer   False

 Multiple Choice Single Answer

  Question   If the seller requires payment before the deferred payment credit matures, he can obtain it by

  Correct Answer   Negotiating the Letter of Credit

 True/False

  Question   Infringement of patent takes place, normally during Industrial or Commercial activities

  Correct Answer   True

 Select The Blank

  Question   The invoice ________is to be stated as the terms of the contract

  Correct Answer   Price

 True/False

  Question   In practice revocable credits are not widely used and irrevocable credits are in frequent use.

  Correct Answer   True

 Multiple Choice Single Answer

  Question   A contract in which the parties agree that a false invoice be isued is

  Correct Answer   Unenforceable by Law

 Multiple Choice Single Answer

  Question   The plaintiff must have some badge of recognition upon which to found his

  Correct Answer   Reputation

 Multiple Choice Single Answer

  Question   The words copyright derives from the expression

  Correct Answer   Copy or words

 Match The Following

Question                                                                                                                Correct Answer

World Trade Organisation                                                                                 Member India

Intellectual Property Rights Agreement (TRIPS)_                        India, a party

Duration of 20 years for patents                                                                      TRIPS agreemnt

India is a signatory and indeed a founder member                      GATT

  

 True/False

  Question   The two types of contract of carriage by sea is contracts evident by bill of lading and contracts containing perils

 Correct Answer   False

 Multiple Choice Multiple Answer

  Question   Dramatic work includes

  Correct Answer   work of dance and mine , the scenario for a film , the script for a film 

 True/False

  Question   The computer programmes have been included in the ambit of patentability

  Correct Answer   False

 Select The Blank

  Question   A ' would be patentee may endanger his own chances by any sort of publicity ________ registration of a patent

  Correct Answer   Before

 True/False

  Question   The open cover may be limited in time while the floating policy is normally limited to twelve months

  Correct Answer   True

 Multiple Choice Multiple Answer

  Question   NewZealan prohibits and restricts certain types of paking like

  Correct Answer   The use of hay , The use of chaff , The use of rice husk 

 Multiple Choice Multiple Answer

  Question   Kinds of bills of lading are

  Correct Answer   Shipped and received bills , Feright prepaid and freight collect bill , clean and claused bill 

 Multiple Choice Multiple Answer

  Question   The major alterations proposed by the Hamburg Rules are

  Correct Answer   Increased maximum limits of liability of the carrier , Exclusion of the carrier's liability in case of error in nevigation, abolished , Application of the rules to transport documents 

 Multiple Choice Multiple Answer

  Question   Following are not registerable under the Emblems and Names (Prevention of improper use ) Act, 1950.

  Correct Answer   Mahatma Gandhi , Pandit Nehru , Shivaji Maharaj 

 Multiple Choice Multiple Answer

  Question   Industrial design may be defined as

  Correct Answer   Features of shape , configuration , Patter and ornament 

 Multiple Choice Multiple Answer

  Question   Classification of contracts by it's validity are

  Correct Answer   Voidable contract , Illegal contract , Unenforceable contract 

 True/False

  Question   The buyer is entitled to refuse the acceptance of the goods if they are packed in accordance of his instructions

  Correct Answer   False

 True/False

  Question   In the case o fliterary work like encyclopedia dictionaries, year books etc., i.e. where there is collective work and output, there is a joint authorship.

  Correct Answer   False

 Multiple Choice Single Answer

  Question   The novelty of an invention is to be recognized from the angle of

  Correct Answer   Manner of manufacture

 Multiple Choice Multiple Answer

  Question   The Lioyd's marine policy form is schedule into which the following information is to be inserted

  Correct Answer   The policy number , The subject- matter insured , The amount insured 

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Posted in: International Commercial Law(Set-5)