Question 1

A ____________________ notice spells out how many days the exporter must give the agent/distributor before their termination becomes effective.

Accepted Answer

pre-termination

Question 2

A contract with no determined duration and which can no longer be terminated for non-performance (since termination did not take place earlier,even though there was evidence of non-performance),is called an evergreen contract.

Accepted Answer

A) True 
 B)False  True

Question 3

Whenever a contract is established between two parties in the same country,the law governing the execution of this contract is determined by that country's legal system.

Accepted Answer

A) True 
 B)False  True

Question 4

A termination for "convenience" is

Accepted Answer

A)   illegal.
B)   a termination for any reason other than non-performance.
C)   a simple process about which the exporter should not have to worry.
D)   usually accomplished with good feelings on both sides.
E)   None of the above

Question 5

The "perfect tender" principle means delivered goods must exactly conform to the goods contracted and delivered within the framework specified in the contract.

Accepted Answer

A) True 
 B)False

Question 6

The main reason some countries use specific statutes to regulate international distribution agreements is that they feel they need to ____________________ agents and distributors.

Accepted Answer

The answer of The main reason some countries use specific...

Question 7

In most Middle Eastern countries,agents and distributors are not required to be nationals of the country.

Accepted Answer

A) True 
 B)False

Question 8

Whether or not a sales contract is international is always self-evident.

Accepted Answer

A) True 
 B)False

Question 9

A termination of an international contract between an exporter and an agent/distributor can be made by

Accepted Answer

A)   either of the parties.
B)   only an exporter.
C)   only an importer.
D)   only an agent/distributor.
E)   None of the above

Question 10

Under the United Nations Convention on Contracts for the International Sale of Goods (CISG),when an offer is made

Accepted Answer

A)   it cannot be withdrawn by the buyer or seller before its expiration date.
B)   it can be withdrawn at any time before the expiration date.
C)   it must be in writing.
D)   international courts usually recognize that it can be withdrawn even after the expiration date.
E)   None of the above

Question 11

Accounts that the exporter will keep to itself and will not allow the agent/distributor or any other local representative to sell to are called ____________________accounts.

Accepted Answer

The answer of Accounts that the exporter will keep to...

Question 12

Agents usually feel encouraged if the exporting firm they represent retains for itself a large number of corporate accounts.

Accepted Answer

A) True 
 B)False

Question 13

A complex multitude of international agreements and international trade laws which complement domestic laws is a form of trade law called ____________________.

Accepted Answer

The answer of A complex multitude of international agreements and...

Question 14

In contracts with distributors,there are no restrictions on what the exporter and distributor can agree to add on to the wholesale price of the goods.

Accepted Answer

A) True 
 B)False

Question 15

An arbitration panel is usually made up of ____________________ arbitrators.

Accepted Answer

The answer of An arbitration panel is usually made up...

Question 16

Lex Mercatoria is

Accepted Answer

A)   a major calamity like a storm or other natural disaster.
B)   the Uniform Commercial Code.
C)   common law.
D)   trade law made up of a multitude of different sources of law and jurisprudence.
E)   None of the above

Question 17

Courts generally look at two criteria to determine if a contract is international.Those criteria are

Accepted Answer

A)   economic and judicial criteria.
B)   agent and distributor criteria.
C)   physical delivery and monetary exchange criteria.
D)   A and B.
E)   None of the above

Question 18

A legal dispute in which the loser bears court costs is said to be operating under

Accepted Answer

A)   common law.
B)   European rules.
C)   contract law.
D)   arbitration.
E)   None of the above

Question 19

In judging whether or not a contract has been breached,the Uniform Commercial Code (UCC)applies the principle of "perfect tender." This means that

Accepted Answer

A)   there must be a cash exchange to enforce the contract.
B)   the UCC treats the matter the same as the CISG.
C)   the parties must refer to their oral agreements, not to what they have written.
D)   the goods and their delivery must exactly conform to what was written in the contract.
E)   None of the above

Question 20

How trade secrets and other strategic advantages are to be handled is included in a _____________________ clause of a contract.

Accepted Answer

The answer of How trade secrets and other strategic advantages...

Exam 5: International Contracts

A ____________________ notice spells out how many days the exporter must give the agent/distributor before their termination becomes effective.

A contract with no determined duration and which can no longer be terminated for non-performance (since termination did not take place earlier,even though there was evidence of non-performance),is called an evergreen contract.

Whenever a contract is established between two parties in the same country,the law governing the execution of this contract is determined by that country's legal system.

A termination for "convenience" is

The "perfect tender" principle means delivered goods must exactly conform to the goods contracted and delivered within the framework specified in the contract.

The main reason some countries use specific statutes to regulate international distribution agreements is that they feel they need to ____________________ agents and distributors.

In most Middle Eastern countries,agents and distributors are not required to be nationals of the country.

Whether or not a sales contract is international is always self-evident.

A termination of an international contract between an exporter and an agent/distributor can be made by

Under the United Nations Convention on Contracts for the International Sale of Goods (CISG) ,when an offer is made

Accounts that the exporter will keep to itself and will not allow the agent/distributor or any other local representative to sell to are called ____________________accounts.

Agents usually feel encouraged if the exporting firm they represent retains for itself a large number of corporate accounts.

A complex multitude of international agreements and international trade laws which complement domestic laws is a form of trade law called ____________________.

In contracts with distributors,there are no restrictions on what the exporter and distributor can agree to add on to the wholesale price of the goods.

An arbitration panel is usually made up of ____________________ arbitrators.

Lex Mercatoria is

Courts generally look at two criteria to determine if a contract is international.Those criteria are

A legal dispute in which the loser bears court costs is said to be operating under

In judging whether or not a contract has been breached,the Uniform Commercial Code (UCC) applies the principle of "perfect tender." This means that

How trade secrets and other strategic advantages are to be handled is included in a _____________________ clause of a contract.