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ALL #E *uestions are o$pulsor+ and ,-S# be atte$pted
1. Explain the roles and activities of the following
organizations;
a) International Chamber of Commerce (ICC) (2 ar!s)b)
"#I$%&I' (2 ar!s)
c) "#CI'% (2 ar!s)
d) *'& (2 ar!s)e) International Co+rt of rbitration. (2
ar!s)
2. In relation to "#CI'% odel aw as rbitration, Explain-a) ow
proceedings are cond+cted (/ ar!s)
b) Enforceabilit0 of awards (2 ar!s)
c) ro+nds and proced+re for challenging decision of arbitration
panel (/ ar!s)
d) roced+re for challenging an arbitrator (2 ar!s)
/. 'he "nited #ations Convention on Contracts for the
International 3ale of oods onl0
applies +nder certain circ+mstances and onl0 to certain
transactions; Explain
a) 'he sphere of application of the convention. (4 ar!s)b)
'ransactions not expressl0 covered b0 the convention. (4 ar!s)
5. (a) $ifferentiate6 $isting+ish between imited artnerships and
imited iabilit0
artnerships (4 ar!s)
(b) $escribe five wa0s in which agenc0 is formed (4 ar!s)
4. Explain briefl0 the advantages and disadvantages of
incorporation (17 ar!s)
8. In relation to companies9 oan capital, explain the following
terms;a) $ebent+re (/ ar!s)
b) :loating Charge (5 ar!s)
c) :ixed Charge (/ ar!s)
. 'he Companies ct 2778 has codified Common law r+les and
ean+ar0 277? #g+gi, a @en0an wholesaler of satin cloth, entered
into a contract to
s+ppl0 AiBa0, a alawian man+fact+rer, with 1,777 metres of satin
cloth to be
delivered b0 /7 >+ne 277?. #g+gi dispatched the cloth b0 ship
on 27 >+ne to ens+re itwo+ld be delivered to AiBa0 on time and
sent the bill of lading to AiBa0. owever, on
2? >+ne and before the cloth had been delivered, #g+gi
received a telex from AiBa0
stating that he no longer needed the acid and wo+ld not be going
thro+gh with thecontract.
.e*uired%
Ad/ise 0u0i as to w'at ation 'e an ta1e under t'e - Con/ention
on
Contrats 2or t'e International Sale o2 Goods3 pa+in0 partiular
attention to t'e
e22et o2 Artile ! o2 t'e Con/ention relatin0 to antiipator+
brea' o2 ontrat"
(!5 ,ar1s)
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?. #zisa is a man+fact+rer of 3oap &peras in @en0a, who has
entered into a contract with
Ir+ng+ in @ogelo in the "3. s both have not dealt with each
other before, #zisa
insists that the contract be financed thro+gh the mechanism of
International etter ofCredit.
E6plain $e'anis$7proedure o2 establis'in0 t'e letter o2 redit
and t'e /arious
t+pes o2 letters o2 redit a/ailable 2or use b+ t'e parties" (!5
,ar1s)
17. >an!i ravin was instr+mental in forming >dave :lowers
plc, which was
registered and received its trading certificate in arch 277?. It
has now come to theattention of the directors the following events
too! place before incorporation of the
compan0;
a) >an!i sold the land in which >dave flowers has
greenho+ses to the compan0
witho+t declaring her interest in the contract.b) >an!i
entered into a contract in the compan09s name to b+0 greenho+se
ean!i.
Ad/ise t'e o$pan+3 not lettin0 down t'eir pre0nant e6petations"
(!5 ,ar1s)
E8 OF E9A,IA#IO
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