International contracts

1️⃣ What is the difference between international trade and foreign trade?

• A) International trade refers to trade between one country and the world, while foreign trade refers to global trade.

• B) Foreign trade is a broader concept that includes international trade.

• C) International trade involves multiple countries, while foreign trade focuses on one country’s trade with the world.

• D) There is no difference; they mean the same.

2️⃣ How has globalization influenced the standardization of international trade practices?

• A) By increasing tariffs and limiting trade agreements.

• B) Through the creation of economic blocs, common quality standards, and trade regulations.

• C) By reducing the importance of international organizations.

• D) Globalization has not influenced trade standardization.

3️⃣ What is Soft Law and Hard Law?

• A) Soft Law is non-binding, while Hard Law is legally binding.

• B) Both are mandatory in international trade.

• C) Soft Law only applies to bilateral treaties.

• D) They are unrelated to international trade.

4️⃣ What is the difference between unification (Hard Law) and harmonization (Soft Law) in commercial law?

• A) Unification creates binding rules, while harmonization establishes flexible principles.

• B) There is no difference; both impose strict legal norms.

• C) Harmonization is mandatory, and unification is optional.
  
  

• D) Unification only applies to local treaties.

5️⃣ What is the difference between the 1969 and 1986 Vienna Conventions?

• A) The 1969 convention regulates treaties between states, while the 1986 convention includes treaties with international organizations.

• B) There is no difference between them.

• C) The 1986 convention regulates bilateral treaties, while the 1969 convention regulates multilateral treaties.

• D) The 1969 convention regulates trade agreements, while the 1986 convention covers environmental treaties.

6️⃣ Why is the definition of "treaty" important in the Vienna Convention?

• A) Because it helps identify international agreements with legal obligations.

• B) Because it helps draft national laws.

• C) Because it defines specific trade agreements.

• D) It has no practical relevance.

7️⃣ What happens if a country signs a treaty but never ratifies it?

• A) It has no legal obligation to comply with it.

• B) It is required to comply immediately.

• C) It must pay a fine for non-compliance.

• D) It is automatically expelled from the UN.

8️⃣ Why was it necessary to create international organizations to regulate trade and international law?

• A) To create a common language for international negotiations.

• B) To ensure fair trade, resolve disputes, and establish legal frameworks.

• C) To allow countries to impose tariffs more freely.

• D) Because trade organizations replace national governments.

9️⃣ What role does the ICC play in regulating international trade if it is not part of the UN?

• A) It develops rules and arbitration mechanisms used in international contracts.

• B) It has no influence on international trade.

• C) It only advises the UN on trade disputes.

• D) It is responsible for approving international treaties.

What is Lex Mercatoria?

• A) A set of non-state rules and principles used in international trade.

• B) A UN treaty on global trade.

• C) A commercial law code from the EU.

• D) A set of rules applicable only in Latin America.