LW C Transport and payment in international trade

Written by Saad Rahman (ACCA)

اے سی سی اے · کارپوریٹ اور بزنس لا · 7 سوالات

نام: ____________________   تاریخ: ____________

1. Which of these is a function of a bill of lading?

   • A A guarantee of the quality of the goods
   • B A statement of the seller's profit
   • C A bank's promise to pay
   • D A receipt for the goods

2. A negotiable bill of lading is a document of title. This means that:

   • A The goods cannot be sold
   • B The seller can cancel the contract
   • C The holder can claim the goods and transfer the right to them by transferring the document
   • D The goods belong to the carrier

3. What is a letter of credit?

   • A A promise by a seller to deliver goods
   • B A loan from the buyer to the seller
   • C A guarantee of the quality of the goods
   • D A bank's undertaking to pay the seller against compliant documents

4. Which statement about letters of comfort is correct?

   • A They are generally not intended to be legally binding guarantees
   • B They are issued by customs
   • C They replace letters of credit
   • D They are always legally binding

5. In a bill of exchange, who is the drawer?

   • A The bank
   • B The person who receives the payment
   • C The person who is ordered to pay
   • D The person who writes the order to pay

6. Which UNCITRAL instrument sets rules for international credit transfers?

   • A The Model Law on International Credit Transfers
   • B The Model Law on International Commercial Arbitration
   • C The Incoterms
   • D The Sale of Goods Convention

7. Why is a letter of credit useful to a seller?

   • A It makes the contract unenforceable
   • B It removes the need to ship goods
   • C It makes the buyer pay twice
   • D The bank pays when compliant documents are presented, which reduces the risk of non-payment