.True or false questions1. Although the British system and the American system of weights and measures are closely related .there are a number of differences between them. 2. According to the CISG, if the buyer takes delivery of all or part of the excess quantity delivered by the seller ,he must pay for it at the contract rate. 3. the quantity clause in the contract provides”500 M/T 10% more or less at sellers option”. This means the quantity delivered by the seller can be less than 450 M/T or more than 550 M/T. 4. All the marks on the outer packages are called shipping marks.5. Chinas GSI country codes are 960-965. 6. Packing charges are usually included in price 7. Theoretically, use of hard currency(currency that is reliable and stable and more in demand)as payment currency is beneficial to the exporter. 1.T 2.T 3.F 4.F 5.F 6.T 7.T1.Ocean transport is a very fast mode of transport. 2.FIO indicates that the shipowner is responsible for the costs of loading goods onto the vessel and unloading goods from the vessel. 3.Time charter generally does not include loading and unloading costs in the charter rate.4.In voyage charter ,the vessel is under the control of the charterer who is responsible for equipping and manning the vessel. 5.A B/L blank endorsed” refers to the B/L without any endorsement 6.All bills of lading are transferable 7.A bill of lading with a notation of insufficient packingis a foul bill of lading 8.A short form bill of lading is usually not acceptable 9.According to the GISG, in the absence of terms as to whether transshipment is allowed or not in the contract ,transshipment is to construed as allowed. 10.Time charter means that the charterer hires the vessel for a period of time without crew 11.Dispatch money and demurrage clause normally appear in the time charter-party1.The losses shall be admitted as general average if they are a direct consequence of a general average act. 2. General average and salvage charges are covered in both FPA and WA.3. Warehouse to warehouse clause is a shipment clause meaning that the carrier is responsible for shipping the goods from the sellers warehouse to the buyers warehouse. 4. Both general additional risks and special additional risks in the Ocean Marine Cargo Clause of the PICC can be covered independently. 5. ICC(C) does not cover risks of war, strike, but covers loss of or damage to cargo caused by earthquake. 6. The exclusions of ICC(C) are the same as that of ICC (B). 7. ICC (A) is close to All Risks of the Ocean Marine Cargo Clause of the PICC in terms of scope of coverage. 8. Although All Risks in the Ocean Marine Cargo Clause of the PICC does nor cover special additional risks, it covers general additional risks.1.T 2.T 3.F 4.F 5.F 6.T 7.T 8. T1. A promissory note differs from a bill of exchange in that the maker of a note promises to personally pay the payee rather than ordering a third party to do so. 2. Upon acceptance the drawer, now the acceptor, becomes the principal debtor and the party primarily liable for the payment of the bill.3. A cheque is a bill of exchange drawn on a bank payable on a determinable future date. 4. A bankers draft is a draft drawn on a bank. 5. The time of payment in a sight draft may be expressed as “at 30 days after sight”. 6. The draft in D/P at sight is a sight draft.7. The quality of a bankers acceptance draft is particularly identical to a marketable bank certificate of deposit. 8. The transaction was made on D/P after sight. When the goods arrived at the port of destination, the buyer borrowed the documents from the collecting bank against T/R. But the buyer refused to make payment on maturity. In this case, the collecting bank was liable to effect payment to the seller. 9. When payment is made by D/A, the collecting bank should accept the draft and release the documents to the importer. 10. The negotiating bank normally has no right of recourse against the drawer, namely the beneficiary in the credit, in the event of dishonor by the issuing bank after its negotiation. 11. The beneficiary (the seller) should effect shipment immediately upon receipt of the letter of credit. 12. When payment is made by a confirmed letter of credit, the seller is assured that payment will be made by the confirming bank no matter the issuing bank is insolvent or not. 13. under the “buyers usance credit”, the beneficiary can get full sight payment.1.T 2.T 3.F 4.F 5.F 6.T 7.T 8. T 9.F 10.F 11.F 12.T 13.T1. All commodity inspection organizations in its nature are governmental. 2. AQSIQ is a governmental organization in China. 3. In the light of the Britain law, if any party to a contract violates the substantive clauses, the breach is called “breach of warranty”. 4. Any natural disasters such as earthquake, flood, war, etc. are force majeure events. 5. Any force majeure event would result in the t