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