International Trade Law Test A and Answers(2007)

International Trade Law Test A and Answers(2007)

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2006—2007 l 0 International Trade Law0 A0 0 0 0 0 0 0 0 0 0 0 0 0 0 I. Translation (20%) 12 2z 3z 42 5z 62 7z 8z 92 102 112 122 liability on the instrument 132 endorsement in blank 142 Documents Against Acceptance 152 sovereign immunity 162 actionable subsidies 172 choice-of- law clause 182 EXW 192 retention of title 202 confirming bank II. Choose definitions (20%) 12 treaty 22 Estrada Doctrine 32 lex mercatoria 42 personal jurisdiction 52 forum selection clause 62 direct effect 72 national treatment rule 82 deductive value 92 dumping 102 rules of origin 112 common law parol evidence rule 122 Avoidance 132 dirty hand 142 freight forwarder 152 demurrage 162 trade acceptance 172 order paper 182 account party 19 2 Uniform Customs and Practices for Documentary Credits 202 rule of strict compliance 1
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A2 a charge made by a shipowner when a charterer keeps a ship idle for more than the agreed-upon lay days B2 the person who requests a bank or some other person to issue a letter of credit C2 a bank may reject a document submitted by a beneficiary seeking to obtain payment on a letter of credit when the document does not exactly comply with the description stated in the credit D2 model rules issued by the International Chamber of Commerce for regulating letters of credit E2 notification by a party that it is canceling a contract and returning everything already received F2 a firm that makes or assists in the making of shipping arrangements G2 laws, regulations, and administrative procedures used by states for determining the country of origin of goods H2 value of imported goods that is based on the price actually paid for similar goods by unrelated persons in the importing country at about the same time I2 when a contract describes itself as being complete and final, preliminary or informal agreement made prior to or at the same time the contract was made will be ignored when interpreting it J2 legally binding agreement between two or more states K2 a provision in a contract designating a particular court or tribunal to resolve any dispute that may arise concerning the contract L 2 once imported goods are within the territory of a state, that state must treat those goods no less favorably than its own domestic goods M2 doctrine that foreign governments will not be explicitly recognized N2 the requirement that a tribunal must have power over the parties before it may hear a dispute O2 the principle whereby a treaty may be invoked by a private person to challenge the actions of a state that is a party to the treaty P2 common commercial rules and procedures used throughout Europe in the Renaissance Q2 selling exported goods at prices below their normal value R2 maxim that a party whose actions cause the other party to breach may not complain S2 a bill of exchange or promissory note that is payable to the bearer or to cash T2 a bill of exchange on which the drawer and the payee are the same person III. True or False (20%) 12 The most commonly used private trade terms are the International Chamber of
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This note was uploaded on 05/27/2011 for the course BUSINESS 401 taught by Professor Dr.rams during the Spring '11 term at Kentucky State University.

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International Trade Law Test A and Answers(2007)

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