International Commercial Law - 6

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 copy right is

Correct Answer 
Incorporal property

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

Correct Answer 
Ship

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

Select The Blank
Question 
India is a signatory and indeed a ________ member of GATT

Correct Answer 
Founder

Multiple Choice Multiple Answer

Question 
Paris convention is applicable to industrial property

Correct Answer 
Inventions , Trade marks , Service marks

Select The Blank
Question 
The burden of proof for recovery under the insurance is that of the ________

Correct Answer 
Assured

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

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

Correct Answer 
Price

Select The Blank
Question 
Copyright protects the ________ of an idea rather than the idea itself.

Correct Answer 
expression

Multiple Choice Single Answer
Question 
The Slip is lodged at

Correct Answer 
Insurance company

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 Single Answer
Question 
Legal status of protection of trade mark can be acquired either by

Correct Answer 
Prolonged use of trade mark by registration

True/False
Question 
Invented words, coined words, fancy words are all synonymous terms.

Correct Answer 
True
 
Multiple Choice Single Answer
Question 
If there is a possibility possibility of rising market price during the transit of the goods, the assured has who has covered the goods under an ordinery policy can obtain a so - called

Correct Answer 
Increased value policy

Select The Blank

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

Correct Answer 
Contract

True/False
Question 
The defination of patent includes mere discovery of a scientific principle

Correct Answer 
False

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 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

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

True/False

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

Correct Answer 
False

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

Correct Answer 
Letter of credit

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 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

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

Correct Answer 
Negligently

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

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 Multiple Answer
Question 
Actual total loss occures

Correct Answer 
Where the subject matter is destroyed , Where the assured has been irretrievably deprived thereof , Where the subjectmatter has been so damaged that is has loss is commercial identity

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 
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 
Industrial design is design elements in

Correct Answer 
Industrial produced articles

True/False
Question 
In the socialist countries arbitration tribunals are constituted for dealing with commercial disputes

Correct Answer 
True

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 
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

True/False
Question 
Arbitration is the most convenient machinery to settle the dispute.

Correct Answer 
True

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 
The consumer's main concern is in the

Correct Answer 
Quality of what they are buying

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

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 
Other documents inluded in the shipping documents are

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

True/False
Question 
The principles relating to the ordinary letters of credit dosen't apply to standby credits

Correct Answer 
False

Multiple Choice Multiple Answer
Question 
In a few exceptional cases the assured is barred from recovering the overpaid portions of the premium

Correct Answer 
If the double insurance was effected by the aassured knowingly , If a claim has been paid for the full sum insured , if the policies were effected at different times

Match The Following

Question                            Correct Answer

India is a signatory and indeed a founder member        GATT
World Trade Organisation                    Member India
Intellectual Property Rights Agreement (TRIPS)_        India, a party
Duration of 20 years for patents                TRIPS agreemnt

Multiple Choice Multiple Answer
Question 
When a general average act occures the three interest are at risk
Correct Answer 
The ship , The cargo , The frieght

International Commercial Law - 5

This solved paper has been contributed by Raul Castro

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

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

 Question            Correct Answer
Agreement with minor    Voidable agreement
Consideration            Cash or kind
Contract            Legal obligation
Proposal accepted        Promise

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

Correct Answer 
Existance , Validity , Termination

Multiple Choice Multiple Answer

Question 
The Institute Cargo clauses B covers the loss of or damage to the subject - matter insured reasonably attributed to

Correct Answer 
Fire or explosion , Discharge of cargo at a port of distress , Earthquake, volcanic eruption or lightening

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

Correct Answer 
Conduct

Multiple Choice Single Answer
Question 
If there is a possibility possibility of rising market price during the transit of the goods, the assured has who has covered the goods under an ordinery policy can obtain a so - called

Correct Answer 
Increased value policy

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

Correct Answer 
Voyage policy

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

Multiple Choice Single Answer
Question 
The trading Invoice should state the

Correct Answer 
Name and addresses of seller and buyer

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

Correct Answer 
Contract

Select The Blank
Question 
The________ expoter has no locas standi under GATT

Correct Answer 
Individual

Match The Following
Question            Correct Answer
The most important institution for the====            The ICC court
arbitral settlement of International trade disputes

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

Multiple Choice Multiple Answer
Question 
Inventions that are not patentable are

Correct Answer 
Invention which is frivolous , Any plan or scheme , The mere discovery of a new property

Multiple Choice Multiple Answer
Question 
When a general average act occures the three interest are at risk

Correct Answer 
The ship , The cargo , The frieght
Select The Blank

Question 
The assured can insure a consignment of goods from Pune to Birmingham provided these place are________in the marine policy as the commencement and destination of the transit

Correct Answer 
Named

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

Correct Answer 
Shipping Document

Select The Blank
Question 
Contracts created by law are called ________.

Correct Answer 
Quasi contract

Select The Blank
Question 
India is a signatory and indeed a ________ member of GATT

Correct Answer 
Founder

Multiple Choice Single Answer
Question 
The copy right is

Correct Answer 
Incorporal property

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

Correct Answer 
banking

True/False
Question 
Invented words, coined words, fancy words are all synonymous terms.

Correct Answer 
True

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 
The burden of proof for recovery under the insurance is that of the ________

Correct Answer 
Assured

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

Correct Answer 
Exclusion clauses

Multiple Choice Single Answer
Question 
The international carriage of goods is to a large extent, still conducted on the basis of paper work by using

Correct Answer 
transport documents

True/False
Question 
A patentee or his licensee is not granted exclusive right to exploit the invention

Correct Answer 
False

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

Correct Answer 
True

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

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

Select The Blank
Question 
It would be infringed by making a ________ copy of the topographical arrengement.

Correct Answer 
facsimile

Multiple Choice Multiple Answer
Question 
Paries convention lay down the basic principle governing protection of

Correct Answer 
Patents , Trademarks , Industrial design

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

Multiple Choice Multiple Answer
Question 
Paris convention is applicable to industrial property

Correct Answer 
Inventions , Trade marks , Service marks

Multiple Choice Single Answer
Question 
The insured value specified in the policy is the

Correct Answer 
Agreed Value

True/False
Question 
Time policies may cover a fixed priod of twelve months on the continuation clause

Correct Answer 
False

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 Multiple Answer
Question 
There ia absence of free consent if the agreement is induced by

Correct Answer 
Coercion , Undue influence , Misrepresentation

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

Correct Answer 
True

True/False
Question 
Arbitration has a contract and non judicial element.

Correct Answer 
False

Multiple Choice Single Answer
Question 
The goodwill between a trader and his customer, which the marks helps to sustain is protected by the

Correct Answer 
Common Law

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 
A reputed automobile manufacturer advertised that their cars have a shatter proof glass windowshields. These windowshields were supposed to eliminate the dangers of flying glass. A customer of such car while driving car was hit by a pebble which shattered the windowshield injuring his eyes. The court awarded the decision in the favour of

Correct Answer 
Customer

Multiple Choice Multiple Answer

Question 
Products liability law is full of mixtures . It is mixture of

Correct Answer 
Tort law , Contract law , Consumer protection law

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

Correct Answer 
False

True/False
Question 
Purchasers cannot try out drugs to determine whether they kill or cure

Correct Answer 
True

True/False
Question 
The principles relating to the ordinary letters of credit dosen't apply to standby credits

Correct Answer 
False

Multiple Choice Multiple Answer
Question 
In a few exceptional cases the assured is barred from recovering the overpaid portions of the premium

Correct Answer 
If the double insurance was effected by the aassured knowingly , If a claim has been paid for the full sum insured , if the policies were effected at different times

Select The Blank
Question 
If the carrier or his agent negligently misdates the bill, the carrier as principal is liable in________

Correct Answer 
damages

International Commercial Law - 4

This solved paper has been contributed by Raul Castro

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

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

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 Multiple Answer

Question A retardation is the machinary to settle the dispute in most

Correct Answer Convient manner , Speedist manner , cheaper manner

Your Answer cheaper manner , Valued manner , Convient manner

Select The Blank

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

Correct Answer banking

Your Answer legal

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

Your Answer True

True/False

Question In practice revocable credits are not widely used and irrevocable

credits are in frequent use.

Correct Answer True

Your Answer True

Select The Blank

Question Broadcasting is considered to be ________ by wireless telegraphy

capable of being lawfully received by members of pubilc.

Correct Answer transmission

Your Answer transmission

Match The Following

Question Correct Answer Your Answer

Legalprotection of

computer software

Trade secreat system Computer work

Expressionof thought Original work Original work

Not entitled for copyright

protection

A mere idea A mere idea

Novels, drama, poetry Literary work Literary work

Select The Blank

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

the parties.

Correct Answer Conduct

Your Answer Gesture

True/False

Question A patentee or his licensee is not granted exclusive right to exploit

the invention

Correct Answer False

Your Answer True

Multiple Choice Single Answer

Question The cost of marine insurance shall be borne by the seller or by the

buyer normally provided by the

Correct Answer Terms of the contract of sale

Your Answer Terms of the contract of sale

Select The Blank

Question The assured can insure a consignment of goods from Pune to

Birmingham provided these place are________in the marine policy

as the commencement and destination of the transit

Correct Answer Named

Your Answer Given

True/False

Question Arbitration has a contract and non judicial element.

Correct Answer False

Your Answer True

Select The Blank

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

be________ correctly

Correct Answer dated

Your Answer dated

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 The Slip is lodged at

Correct Answer Insurance company

Your Answer Insurance company

True/False

Question The arbitrator as a private judge may not be absolutely impartial.

Correct Answer False

Your Answer True

Multiple Choice Single Answer

Question One of the parties to the marine insurance is Known as

Correct Answer Assured

Your Answer Assured

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 The Society Lloyd's has members like

Correct Answer Underwriting

Your Answer Overwriting

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

Select The Blank

Question Contracts created by law are called ________.

Correct Answer Quasi contract

Your Answer Valid contract

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

Your Answer sufficient skill, fudgement and labour , selection indgement and

experience , selection labour, skill and capital

Multiple Choice Multiple Answer

Question The letter of cradit should state which of the methods have been

chosen by the parties namely,

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

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

Multiple Choice Single Answer

Question If the goods are sold on the c.i.f.terms, the duty to take out the

policy and pay the cost of insurance is of

Correct Answer Seller

Your Answer Seller

Multiple Choice Multiple Answer

Question The exclusion clauses covers

Correct Answer War exclusion clause , Strike exclusion , Loss or damage caused by

any terrorist

Your Answer War exclusion clause , Strike exclusion , Loss or damage caused by

any terrorist

True/False

Question The principles relating to the ordinary letters of credit dosen't apply

to standby credits

Correct Answer False

Your Answer False

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

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

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

Your Answer Specific period of time

Multiple Choice Multiple Answer

Question Following conventions establish international filing system

Correct Answer European Patent Convention , Patet Cooperation Treaty , Madrid

Agreement for Trade Mark

Your Answer European Patent Convention , Patet Cooperation Treaty , Patent

right ffor trade

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

Your Answer False

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

Your Answer Freight

Select The Blank

Question Copyright protects the ________ of an idea rather than the idea

itself.

Correct Answer expression

Your Answer expression

True/False

Question If the document is merely a receipt, the Hague-Vishy Rules apply.

Correct Answer False

Your Answer True

Select The Blank

Question The commercial aims of the parties to the copntract are defeated

not by their fault but by force of ________circumstrances

Correct Answer Supervening

Your Answer Superficial

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

Your Answer Negotiating the Letter of Credit

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

Your Answer Ship

True/False

Question Arbitration in the socialist countries are similar in some respects

from that in the countries of free economy

Correct Answer False

Your Answer False

Multiple Choice Single Answer

Question Paries to an agreement may restrict the the right of either party to

issuing

Correct Answer Particular court

Your Answer Particular court

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

Your 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 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

Your Answer Bank to the seller

Select The Blank

Question If the carrier or his agent negligently misdates the bill, the carrier

as principal is liable in________

Correct Answer damages

Your Answer loss

Multiple Choice Single Answer

Question The UNCITRAL Conciliation Rules, like the Arbitration Rules, apply

only of the parties have

Correct Answer Adopted them

Your Answer Adopted them

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 TRIPS agreemnt

Duration of 20 years for

patents

TRIPS agreemnt Paris Convention

Multiple Choice Single Answer

Question Industrial design is design elements in

Correct Answer Industrial produced articles

Your Answer Industrial produced articles

Multiple Choice Single Answer

Question If no request for conciliation is made or the conciliation fails, the

dispute proceeds to

Correct Answer Arbitration

Your Answer Arbitration

Multiple Choice Multiple Answer

Question Literary work also covers secondary work on existing sources

provided that it in turn involves literary

Correct Answer Skill , Labour , Judgement

Your Answer Skill , Labour , Judgement

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 Multiple Answer

Question A retardation is the machinary to settle the dispute in

most

Correct

Answer

Convient manner , Speedist manner , cheaper manner

Your

Answer

Convient manner , cheaper manner , Valued manner

Select The Blank

Question The expression stale bill of lading is used in ________

practice

Correct

Answer

banking

Your

Answer

Legal

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

Your

Answer

True

True/False

Question In practice revocable credits are not widely used and

irrevocable credits are in frequent use.

Correct

Answer

True

Your

Answer

True

Select The Blank

Question Broadcasting is considered to be ________ by wireless

telegraphy capable of being lawfully received by members

of pubilc.

Correct

Answer

transmission

Your

Answer

Transmission

Match The Following

Question Correct Answer Your Answer

Legalprotection of

computer software

Trade secreat system Computer work

Expressionof thought Original work Original work

Not entitled for

copyright protection

A mere idea A mere idea

Novels, drama, poetry Literary work Literary work

Select The Blank

Question An implied contract is one which is inferred from the

________ of the parties.

Correct

Answer

Conduct

Your

Answer

Gesture

True/False

Question A patentee or his licensee is not granted exclusive right to

exploit the invention

Correct

Answer

False

Your

Answer

True

Multiple Choice Single Answer

Question The cost of marine insurance shall be borne by the seller

or by the buyer normally provided by the

Correct

Answer

Terms of the contract of sale

Your

Answer

Terms of the contract of sale

Select The Blank

Question The assured can insure a consignment of goods from Pune

to Birmingham provided these place are________in the

marine policy as the commencement and destination of

the transit

Correct

Answer

Named

Your

Answer

Given

True/False

Question Arbitration has a contract and non judicial element.

Correct

Answer

False

Your

Answer

True

Select The Blank

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

should be________ correctly

Correct

Answer

dated

Your

Answer

Dated

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 The Slip is lodged at

Correct

Answer

Insurance company

Your

Answer

Insurance company

True/False

Question The arbitrator as a private judge may not be absolutely

impartial.

CorrectAnswerFalse

YourAnswerTrue

Multiple Choice Single Answer

Question One of the parties to the marine insurance is Known as

Correct

Answer

Assured

Your

Answer

Assured

True/False

Question In the case of literary 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 The Society Lloyd's has members like

Correct

Answer

Underwriting

Your

Answer

Overwriting

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

Select The Blank

Question Contracts created by law are called ________.

Correct

Answer

Quasi contract

Your

Answer

Valid contract

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

Your

Answer

sufficient skill, fudgement and labour , selection

indgement and experience , selection labour, skill and

capital

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

Multiple Choice Single Answer

Question If the goods are sold on the c.i.f.terms, the duty to take

out the policy and pay the cost of insurance is of

Correct

Answer

Seller

Your

Answer

Seller

Multiple Choice Multiple Answer

Question The exclusion clauses covers

Correct

Answer

War exclusion clause , Strike exclusion , Loss or damage

caused by any terrorist

Your

Answer

War exclusion clause , Strike exclusion , Loss or damage

caused by any terrorist

True/False

Question The principles relating to the ordinary letters of credit

dosen't apply to standby credits

Correct

Answer

False

Your

Answer

False

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

Your

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 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

Your

Answer

to the seller, due on presentation of their documents

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

Your

Answer

Specific period of time

Multiple Choice Multiple Answer

Question Following conventions establish international filing

system

Correct

Answer

European Patent Convention , Patent Cooperation Treaty ,

Madrid Agreement for Trade Mark

Your

Answer

European Patent Convention , Patent Cooperation Treaty ,

Patent right for trade

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

Your

Answer

False

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

Your

Answer

Freight

Select The Blank

Question Copyright protects the ________ of an idea rather than

the idea itself.

Correct

Answer

expression

Your

Answer

Expression

True/False

Question If the document is merely a receipt, the Hague-Vishy

Rules apply.

Correct

Answer

False

Your

Answer

True

Select The Blank

Question The commercial aims of the parties to the contract are

defeated not by their fault but by force of

________circumstances

Correct

Answer

Supervening

Your

Answer

Superficial

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

Your

Answer

Negotiating the Letter of Credit

Select The Blank

Question The clause Arrival means that the seller has to cause

delivery to be made to the buyer from the ________

Correct

Answer

Ship

Your

Answer

Ship

True/False

Question Arbitration in the socialist countries are similar in some

respects from that in the countries of free economy

Correct

Answer

False

Your

Answer

False

Multiple Choice Single Answer

Question Paries to an agreement may restrict the the right of either

party to issuing

Correct

Answer

Particular court

Your

Answer

Particular court

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

Your

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 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

Your

Answer

Bank to the seller

Select The Blank

Question If the carrier or his agent negligently misdates the bill,

the carrier as principal is liable in________

Correct

Answer

damages

Your

Answer

Loss

Multiple Choice Single Answer

Question The UNCITRAL Conciliation Rules, like the Arbitration

Rules, apply only of the parties have

Correct

Answer

Adopted them

Your

Answer

Adopted them

Match The Following

Question Correct Answer Your Answer

India is a signatory

and indeed a founder

member

GATT GATT

World Trade

Organization

Member India WTO

Intellectual Property

Rights Agreement

(TRIPS)_

India, a party TRIPS agreemnt

Duration of 20 years

for patents

TRIPS agreemnt Paris Convention

Multiple Choice Single Answer

Question Industrial design is design elements in

Correct

Answer

Industrial produced articles

Your

Answer

Industrial produced articles

Multiple Choice Single Answer

Question If no request for conciliation is made or the conciliation

fails, the dispute proceeds to

Correct

Answer

Arbitration

Your

Answer

Arbitration

Multiple Choice Multiple Answer

Question Literary work also covers secondary work on existing

sources provided that it in turn involves literary

Correct

Answer

Skill , Labor , Judgment

Your

Answer

Skill , Labor , Judgment