Saturday, December 25, 2010

International Commercial Law - 2


This solved paper has been contributed by Raul Castro

THANKS TO :
Raul Castro
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LIST OF ATTEMPTED QUESTIONS AND ANSWERS       
             

 Select The Blank
  Question         The burden of proof for recovery under the insurance is that of the ________
  Correct Answer            Assured
  Your Answer  Insured


 Multiple Choice Single Answer
  Question         An administrative commission for concilliation is constituted at the ICC and for each dispute a conciliation committee of three members is set up by the
  Correct Answer            President of ICC
  Your Answer  President of ICC


 Multiple Choice Single Answer
  Question         The broker wright the essentials of the proposed insurance in cuetomery abbreviationson a document called
  Correct Answer            The Slip
  Your Answer  The Slip


 Select The Blank
  Question         In legal phraseology there is no privity of ________ between customer and manufacturer
  Correct Answer            Contract
  Your Answer  Contract


 True/False
  Question         The law of products liability governs the public litigation of product accidents
  Correct Answer            False
  Your 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
  Your 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         A contract in which the parties agree that a false invoice be isued is
  Correct Answer            Unenforceable by Law
  Your Answer  Illegal in Law


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


 Select The Blank
  Question         It would be infringed by making a ________ copy of the topographical arrengement.
  Correct Answer            facsimile
  Your Answer  duplicate


 Multiple Choice Single Answer
  Question         Apolicy which specifies the agreed value of the subject mateer insured
  Correct Answer            A valued policy
  Your Answer  A valued policy


 Multiple Choice Multiple Answer
  Question         Other documents inluded in the shipping documents are
  Correct Answer            Certificate of origin , Certificate of quality , Certificate of inspection
  Your Answer  Certificate of origin , Certificate of quality , Certificate of inspection


 True/False
  Question         Infringement of patent takes place, normally during Industrial or Commercial activities
  Correct Answer            True
  Your Answer  True


 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
  Your Answer  True


 Multiple Choice Single Answer
  Question         Where the subject - matter is insured from one point to another isa
  Correct Answer            Voyage policy
  Your Answer  Voyage policy


 Multiple Choice Single Answer
  Question         The container is normally shipped under an ordinary
  Correct Answer            Shipped bill of lading
  Your Answer  Container bill of lading


 Multiple Choice Multiple Answer
  Question         Classification of contracts by it's validity are
  Correct Answer            Unenforceable contract , Voidable contract , Illegal contract
  Your Answer  Voidable contract , Illegal contract , Unenforceable contract


 Multiple Choice Single Answer
  Question         The most frequent method of payment for goods is the export trade is
  Correct Answer            Letter of credit
  Your Answer  Letter of credit


 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
  Your Answer  L/C


 Select The Blank
  Question         ________ has no eastablished status in Law but are admissible in evidence against the seller if litigation ensues between him and buyer
  Correct Answer            Letters of Insurance
  Your Answer  Letters of credit


 Multiple Choice Single Answer
  Question         If the carriage of goods by sea are carried in bulk, e.g. coal, oil, grain, the shipper may hise a whole vessel i.e.
  Correct Answer            charter party
  Your Answer  charter party


 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
  Your Answer  The doctrine of strict performance


 Multiple Choice Single Answer
  Question         The trading Invoice should state the
  Correct Answer            Name and addresses of seller and buyer
  Your Answer  Name and addresses of seller and buyer


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


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


 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
  Your Answer  frandulently


 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
  Your Answer  Settlement


 Multiple Choice Single Answer
  Question         The work under the copyright Act should be
  Correct Answer            originated from the author
  Your Answer  originated from the author


 Multiple Choice Single Answer
  Question         The marine insurance policy or the marine insurance certificate forms a part of the
  Correct Answer            Shipping Document
  Your Answer  Shipping Document


 Match The Following
Question           Correct Answer  Your Answer

The manufacturing process        Quality control   Quality control

Important issue of vertical privity is        Who can be sued          The marketing process

Sales talk          Opinion maticulous precautions

An automobile or high speed machinery maticulous precautions  Who can be sued



 Multiple Choice Multiple Answer
  Question         A general average act has to satify the followling requirements. It must be
  Correct Answer            In time of peril , An extraordinary sacrifice or expenditure , Purposely resorted to
  Your Answer  In time of peril , An extraordinary sacrifice or expenditure , Purposely resorted to


 True/False
  Question         The arbitrator , like a judge, has power to order the inspection of the object in dispute.
  Correct Answer            True
  Your Answer  True


 True/False
  Question         Ii is in the public interest to encourage the marketing of the products having defects that can be sold in lower price to the public.
  Correct Answer            False
  Your Answer  True


 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
  Your Answer  True


 Multiple Choice Single Answer
  Question         If the carriage of goods by sea are individual pakages, they are carried under
  Correct Answer            bill of lading
  Your Answer  bill of lading


 Multiple Choice Single Answer
  Question         It is essential that a patentable invention must possess
  Correct Answer            Utility
  Your Answer  Utility


 Multiple Choice Single Answer
  Question         The law of product safety is
  Correct Answer            Regulatory law
  Your Answer  Regulatory law


 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
  Your Answer  Before


 Multiple Choice Multiple Answer
  Question         Paris convention is applicable to industrial property
  Correct Answer            Inventions , Trade marks , Service marks
  Your Answer  Inventions , Trade marks , Service marks


 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
  Your Answer  False


 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
  Your Answer  Liquidated damages


 Multiple Choice Multiple Answer
  Question         Translation , editorial work involves
  Correct Answer            Ammendments , Explanation , Compilation
  Your Answer  Ammendments , Explanation , Compilation


 Multiple Choice Single Answer
  Question         The novelty of an invention is to be recognized from the angle of
  Correct Answer            Manner of manufacture
  Your Answer  Manner of manufacture


 Multiple Choice Multiple Answer
  Question         The shipping document consist of mainly
  Correct Answer            A clean bill of lading , Amarine insurance policy , The invoice
  Your Answer  A clean bill of lading , Amarine insurance policy , The invoice


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


 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
  Your Answer  False


 Match The Following
Question           Correct Answer  Your Answer

India is a signatory and indeed a founder member          GATT    GATT

World Trade Organisation          Member India    WTO

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

Duration of 20 years for patents TRIPS agreemnt            TRIPS agreemnt



 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 

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