Friday, August 2, 2013

International Commercial Law - 7

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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