END TERM EXAMINATION, APRIL 2016 B.A.LL.B. (HONS.) SEMESTER-VIII X International Commercial Law Max. Marks: 60 Time Allowed: 3:00 Hrs. Note: Answer five questions including Question No.
1 which is compulsory. The marks carried by each question is indicated at the end of the question.

1. Answer the following (each answer should be in approximately 100 words): (Marks 2×10=20) a. EXW b. FOB c. CFR d. DDP e. FAS f. Revocable and Irrevocable letters of Credit g. Sight and Differed Payment h. Party autonomy in e commerce i. Principle of competence -competence j. Applicability of CISG

2. On January 1 a buyer from Contracting state A of CISG sends the following telex to the seller B from contracting state of CISG, "I will buy from you 500 four ounce bottles of your perfume at American 35 per bottle. As this offer is 5 over the wholesale price per bottle, sure that you will accept. If we do not hear otherwise from you by January we will accept delivery by January 10. " (Marks a. The seller does not respond by January

5. Is there a Contract? b. The seller ships the bottles on January on January the buyer calls the seller and says, "I revoke my offer." The bottles arrive on January 10. The buyer refuses to accept the shipment on the ground that the offer was revoked before an indication of assent-the shipment-by the seller reached the buyer. Is the buyer in breach? c. Suppose that the buyer had put in telex, "any dispute under this agreement shall be settled by arbitration in country A. payment by confirmed irrevocable letter of credit." On January 6 the seller notifies the buyer by e-mail, "Okay. We can do the shipment. I will draw up a written confirmation and send it to you with the shipment." The buyer establishes the letter of credit and the shipment arrives but the seller's written confirmation mentions nothing about the arbitration. Is there a contract? Is arbitration part of a contract? Discuss with the help of relevant case law. d. Suppose after receiving the offer under question the seller immediately replies with e-mail that "all terms accepted except arbitration clause". Is there a contract?

3. The general rule under article 79 of CISG gives exemption from liability to the party for failure to perform the obligation due to the impediment that could not be taken into account by him or could not have avoided or overcome such impediment or its consequences. However, the liability varies based upon different circumstances such as force majeure and hardship in different legal systems. It is a settled law now that the CISG recognizes force majeure and hardship as the impediment under article 79. On the basis of given information answer the following (Marks a. Define and distinguish between force majeure and hardship b. What are the relevant thresholds of hardship? c. Consequences of force majeure and hardship under CISG?

4. Discuss the development of Conventions on Carriage by sea. Also discuss the rights and liabilities of Carrier under the Hague-Visby rules. (Marks 10)

5. Discuss the jurisdiction, appointment, powers and functions of Arbitration tribunals under UNCITRAL Model law on International Commercial arbitration. Use the case laws when necessary. (Marks 10)

6. What is mean by Documentary Credit? Discuss the Rights and Obligations of Applicant and Beneficiary in the Documentary Credit Transactions. (Marks 10)

7. Write note (Marks 5×2=10) a. Fundamental breach of Contract b. Scope and significance of UNIDROIT Principles of International Commercial Contract.