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Lawsss

Total questions: 120

Worksheet time: 2hrs 30mins

Name
Class
Date
1.
Two parties may agree to bind themselves in any way they choose
a)
true
b)
false
2.
The law that regulates the relationship between state and citizen is called private law
a)
true
b)
false
3.
The law that regulates the relationship between citizens is called private law
a)
true
b)
false
4.
Public law looks at the behavior of citizens and companies toward each other
a)
true
b)
false
5.
Contract law looks at agreements which citizens or companies make with each other
a)
true
b)
false
6.
Contract law is a branch of public law
a)
true
b)
false
7.
The parties to a contract cannot set aside rights or duties under the public law
a)
true
b)
false
8.
The Anglo-American law and the Continental law are important in international trade
a)
true
b)
false
9.
Without a defined applicable law, the parties may write enforceable provisions
a)
true
b)
false
10.

A clear, detailed and fair contract greatly decreases the possible influence of the applicable law

a)
true
b)
false
11.
A contract normally shows double wording and balanced duties and rights of the parties.
a)
true
b)
false
12.
Anglo-American contract law is mostly case law, so lawyers draft contracts with precedents in mind.
a)
true
b)
false
13.
If English is not the first language of either party, many contract drafters try to limit themselves to four basic patterns of combination in English.
a)
true
b)
false
14.
Try to use passive verbs where possible.
a)
true
b)
false
15.
The heart of most contracts is the legal framework.
a)
true
b)
false
16.
Background, exchange, and framework are the three sections that make a contract.
a)
true
b)
false
17.
Any complete contract answers certain questions explicitly.
a)
true
b)
false
18.
The word “whereas” means “because or considering that”.
a)
true
b)
false
19.
The following statement is considered as a recital: Whereas the parties have for many years successfully traded together.
a)
true
b)
false
20.

If the parties do not regulate the framework, then the information is available in the applicable law.

a)
true
b)
false
21.
A delivery clause (how and when) supports the price clause.
a)
true
b)
false
22.

HOW AND WHEN PROVISIONS mean how and when delivery must be made and how and when the price must be fixed.

a)
true
b)
false
23.
The delivery clause is supported by a warranty requiring the seller to make good defects.
a)
true
b)
false
24.
When the seller doesn‟t supply the goods in line with specifications, the payment clause helps the seller.
a)
true
b)
false
25.

A contract always has the following parts:

- Applicable law

- Definitions section

- Provisions concerning the parties

- Provisions on the lifetime of the contract

- Provisions on the legal status of the contract

- Provision on the settlement of disputes

a)
true
b)
false
26.
A scope clause explains what the buyer must supply.
a)
true
b)
false
27.
The following clause can tell us when risk and title pass.
a)
true
b)
false
28.

A fully drafted delivery clause includes the following information:

- How will delivery be made?

- What if the goods are ready but delivery is impossible?

- What is the date of delivery?

- When do risk and title pass?

- What delay is excusable?

a)
true
b)
false
29.
Payment is usually tied to delivery.
a)
true
b)
false
30.
The seller is always responsible for late delivery.
a)
true
b)
false
31.
The buyer drafts a scope clause on the principle of comprehensive delivery.
a)
true
b)
false
32.
The sentence “Time is of the essence.” makes sense to Anglo-American judges.
a)
true
b)
false
33.
Risk means legal responsibility for goods.
a)
true
b)
false
34.
Force majeure refers to some events beyond the control of the parties.
a)
true
b)
false
35.
The normal consequences of unexcused delay are the payment of interest and the ending of the contract.
a)
true
b)
false
36.
The seller uses force majeure provisions to make sure that he/ she will not be considered to be in default in case of late delivery caused by a force majeure event.
a)
true
b)
false
37.
Grace period and force majeure provisions are added to a contract to soften the delivery date.
a)
true
b)
false
38.
The seller drafts a scope clause on the principle of comprehensive delivery.
a)
true
b)
false
39.
The buyer and the seller approach the description of goods and services from different angles.
a)
true
b)
false
40.
CIF delivery takes place when the goods are on board the vessel.
a)
true
b)
false
41.
Transfer of risk and title is mentioned in the payment clause.
a)
true
b)
false
42.
Deciding the right price for goods and services is a legal problem.
a)
true
b)
false
43.

A fully drafted payment clause includes the following information:

- How will payment be made?

- What counts as payment?

- What is the date of payment?

- What delay is excusable?

- What are the consequences of non-excusable delay?

a)
true
b)
false
44.
International business is based on a mixture of trust and the close proximity of courts of law.
a)
true
b)
false
45.
The most common method of payment in international business is the confirmed, irrevocable letter of credit because it removes the seller‟s risk.
a)
true
b)
false
46.
In the context of payment, most sellers try to resist the force majeure excuse for delay.
a)
true
b)
false
47.
The seller is not entitled to compensation for losses due to late payment.
a)
true
b)
false
48.
The time for payment that the buyer likes most is when the paying bank makes the transfer of the funds.
a)
true
b)
false
49.
The time for payment that the seller likes most is when the funds arrive in the seller‟s bank account.
a)
true
b)
false
50.
The time for payment which the buyer likes least is when the buyer instructs the bank to pay.
a)
true
b)
false
51.
The time for payment which the seller likes least is when the buyer instructs the bank to pay.
a)
true
b)
false
52.
Late payment is usually subject to payment of interest on the outstanding sum.
a)
true
b)
false
53.
A “Most Favored Customer” provision guards to some extent against excessive pricing or against future increases in price.
a)
true
b)
false
54.
The parties agree an elaborate system of stage payments called “milestone payments” when work is carried out over a long period.
a)
true
b)
false
55.
The seller usually wants to specify the currency of payment in payment clause.
a)
true
b)
false
56.
Warranty is a promise you make about your own performance while guarantee is a promise you make to one party on behalf of another.
a)
true
b)
false
57.
Internationally, there is always a clear distinction between warranty and guarantee.
a)
true
b)
false
58.
Only the buyer benefits from a warranty.
a)
true
b)
false
59.
Many contracts use defects liability instead of guarantee or warranty to avoid confusion between these two terms.
a)
true
b)
false
60.
Latent defects, apparent defects, hidden defects and inherent defects are similar in meaning.
a)
true
b)
false
61.
Defects are of three kind: workmanship, materials, and design.
a)
true
b)
false
62.
Defect liability provision applies to anything wrong discovered on delivery only.
a)
true
b)
false
63.
The machine is instructed to be put somewhere even. The buyer put the machine on the rough floor. The defects liability provision doesn‟t work in this case because of wear and tear.
a)
true
b)
false
64.
Defects liability provision doesn‟t work in case of misuse and fair wear and tear.
a)
true
b)
false
65.
Car wheels become worn out by use. It is fair wear and tear.
a)
true
b)
false
66.
The buyer received a fan from the seller on 1st March, 2020. The warranty period is 6 months from receipt of the goods. The buyer used that fan for the first time on 15th November 2020 and unfortunately it didn‟t work. Then he took the fan to the seller and said “Your fan is too bad. It didn’t work for the first use! You must do something or return my money”. The buyer‟s claim is acceptable.
a)
true
b)
false
67.
To correct defects, the phrase “at his/ seller’s discretion” is preferable for the seller in the defect liability provision.
a)
true
b)
false
68.
The fridges arrived with some dented cases. The defect in this case is called the superficial defect.
a)
true
b)
false
69.
A common way to settle a superficial problem is reduction in price.
a)
true
b)
false
70.
The seller not the buyer repairs the defective goods.
a)
true
b)
false
71.
Warranty is not related to the price at all.
a)
true
b)
false
72.

The following provision is fully designed. The seller warrants that the goods mentioned above in this contract are free from any defects on delivery and the seller will be liable for any defects for any item of the supply during the warranty period of 12 months.

a)
true
b)
false
73.
Repair and replacement are the only two ways the seller makes good defects.
a)
true
b)
false
74.
Normally the tougher the warranty, the higher the contract price.
a)
true
b)
false
75.

The following warranty is fully designed. Within one week of finding any defects of the goods, the buyer has to inform the seller of this finding.

a)
true
b)
false
76.

The contract says Any supplies corrected or furnished by way of replacement undewarranty shall be subject to the provisions of this clause to the same extent as supplies initially accepted by the contractor for a full further period of warranty. Suppose the products are replaced after 8 months of usage. The defects liability period will be extended, i.e., 8 months longer.

a)
true
b)
false
77.
Penalty is fair.
a)
true
b)
false
78.
Any penalties in a contract can be enforced.
a)
true
b)
false
79.
Losses can never be predictable.
a)
true
b)
false
80.
Compensation is for predictable losses and lump-sum compensation or liquidate damages are for unpredictable losses.
a)
true
b)
false
81.

US$3,000 for each full month of late delivery. This is lump sum compensation or liquidated damages.

a)
true
b)
false
82.
For the losses which are hard to quantify and prove, the parties agree the lump-sum compensation or liquidated damages in the contract.
a)
true
b)
false
83.
Liquidated damages provision mentioned in a contract is always enforceable.
a)
true
b)
false
84.
Penalty, liquidated damages and quasi-indemnity are lump-sum compensation for unpredictable losses.
a)
true
b)
false
85.
Penalty is sometimes disguised in an incentive or bonus scheme.
a)
true
b)
false
86.

In case the Seller deliver the goods at the time specified in the contract, the Buyer will pay US$900. If the delivery is one month early, the buyer will pay US$1,000.This is an implied penalty.

a)
true
b)
false
87.
The key to dealing with problems concerning damages in Anglo-American courts is that one party is not allowed to punish the other.
a)
true
b)
false
88.
National laws differ widely in their treatment of damages.
a)
true
b)
false
89.
When delivering goods late, the seller has to pay compensation according the Anglo- American rule.
a)
true
b)
false
90.
The phrase "for the reason whether or not the Seller is at fault” should be written in the contract to make sure that the seller always has to pay liquidated damages in case of late delivery.
a)
true
b)
false
91.
The seller cannot limit his responsibility in case of late delivery.
a)
true
b)
false
92.
The seller never likes the Liquidated Damages Clause.
a)
true
b)
false
93.
When the seller pays liquidated damages, the buyer cannot have further claims for greater damage.
a)
true
b)
false
94.
To avoid the cost and uncertainty of legal proceedings, many contracts contain termination for default clauses.
a)
true
b)
false
95.
Termination occurs when one party asks a court to end a contract because the other has breached it.
a)
true
b)
false
96.
Termination for cause provision protects both the buyer and the seller.
a)
true
b)
false
97.
Definition is needed when a term has several common meanings and the parties wish to choose one meaning only.
a)
true
b)
false
98.
Definition is unnecessary when the parties wish to go beyond the accepted, dictionary definition of a term.
a)
true
b)
false
99.
Sometimes a contract is signed but it doesn‟t come into force.
a)
true
b)
false
100.
Between the Date of Execution and Effective Date, the contract is not binding.
a)
true
b)
false
101.
Drafters must coordinate Coming into Force provision and Renewal provision to avoid automatic renewal.
a)
true
b)
false
102.
Partial invalidity or Severability helps a contract continue when a part of the contract is invalid.
a)
true
b)
false
103.
Termination may be either for convenience or for default.
a)
true
b)
false
104.
The parties don‟t need to agree on a contract language.
a)
true
b)
false
105.
When parties first try to solve their problems in a friendly, businesslike way, it is amicable settlement.
a)
true
b)
false
106.
A legal technique for the resolution of disputes outside the courts of law, wherein the parties to a dispute refer it to one or more persons, by whose decision they agree to be bound. It is litigation.
a)
true
b)
false
107.
The difference between conciliation/ mediation and amicable settlement is that the former involves a third party while the latter doesn‟t.
a)
true
b)
false
108.
The award made by the arbitrators is effective/ enforceable.
a)
true
b)
false
109.

A full arbitration clause includes:

- The rules of arbitration

- The place of arbitration

- The language of arbitration

- The allocation of court costs

a)
true
b)
false
110.
The parties in the contract prefer not taking litigation only because they are not well aware of litigation laws.
a)
true
b)
false
111.
Frustration and impossibility discharge a contract when one side faces an excessive burden in complying with the contract terms.
a)
true
b)
false
112.

Any supplies corrected or furnished by way of replacement under warranty shall be subject to the provisions of this clause to the same extent as supplies initially accepted by the contractor for a full further period of warranty. The above clause is beneficial to both the seller and the buyer.

a)
true
b)
false
113.

To avoid endless extension of the defects liability period, the seller should add the following information in a contract. The total warranty period shall in no case exceed… (time limit for example 3 years)

a)
true
b)
false
114.
The following phrases are not specific.
a)
true
b)
false
115.
The seller is responsible for direct losses and the buyer for indirect or consequential losses.
a)
true
b)
false
116.
Suppose you buy a production line and it breaks down within the defects liability period. The material not used is becoming damaged. This is a consequential loss.
a)
true
b)
false
117.
Defects liability is different from maintenance.
a)
true
b)
false
118.

The following defects liability provision is problematic. The seller warrants to make good with all possible speed and at his own expense any defect in or damage to any part of the works which may appear or occur during the Defects Liability Period. The seller also warrants to keep equipment in running order.

a)
true
b)
false
119.
A warranty agrees to make good defects or damage however arising.
a)
true
b)
false
120.
Maintenance is an expensive obligation; in practice maintenance usually requires a separate agreement.
a)
true
b)
false

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