International Commercial Law - 14

This solved paper has been contributed by Raul Castro

THANKS TO : Raul Castro
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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