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 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
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
indeed a founder member
GATT GATT
World Trade Organisation Member India
Intellectual Property Rights
Agreement (TRIPS)_
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
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 ,
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
and indeed a founder
member
GATT GATT
World Trade
Organization
Member India
Intellectual Property
Rights Agreement
(TRIPS)_
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
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