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Exam 5: The Documentary Sale and Terms of Trade

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Question 41

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Compare and contrast the instances in which an individual holding a bill of lading will and will not be protected from the adverse claims of third parties.

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An individual holding a bill of lading w...

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Question 42

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A carrier can be held liable for breach of contract for damages for the misdelivery of goods.

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B) False

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Question 43

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Consider when a shipping term as opposed to contradictory contract language will be most persuasive in identifying the type of contract.Vice versa?

A sale made with terms "CIF Tokyo" includes in the price quoted for the goods which of the following:

The two types of contracts named for the point at which responsibility for loss is transferred from seller to buyer is:

What are the benefits and possible detriments of using an inspection firm?

Prepare an invoice that contemplates any number of the following: ocean freight and insurance costs,ground transportation costs,port charges,customs fees,forwarder's fees,and communications expenses.

Negotiable instruments are unconditional promises to pay.

The difference between terms "CFR" and "CIF" is that under "CIF" term of sale,the buyer must procure his own marine insurance coverage on the goods.

Compare and contrast the circumstances under which a buyer would and would not accept "E"-term contracts.

Under Cedar Petrochemicals,Incoterms are incorporated into the body of the CISG and into the contract if the CISG applies to the underlying contract.

Rich Maes contracts to deliver bison meats to David in Spain on a destination international commercial term.However,while five (5) days out in the Atlantic Ocean,the ship carrying the bison meats sinks due to extreme storm.Under the destination designation the risk of loss is with: