Set of flashcards Business Law basics

Flashcards	20
Language	English
Category	Law
Level	University
Created / Updated	31.10.2017 / 03.11.2017
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Which of the following cases is an example of “The newer norm overrides the older norms”?

The last novel of the tax law includes facilitations for tax payers.

The business law prevails the civil law

The labour law prevails the civil law.

The Consitutional law displaces the Administrative law

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The last novel of the tax law includes facilitations for tax payers.

The business law prevails the civil law

The labour law prevails the civil law.

The Consitutional law displaces the Administrative law

Does international law exist as “law”, although thereis no “international police force”, which enforces the international law?

No, because rules against states cannot be enforced

Yes, because enforcement is not necessary to fulfil the definition of "law"

No, because enforcement is necessary to fulfil the definition of “law”.

Yes, because the states themselves recognise the existence of international law.

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No, because rules against states cannot be enforced

Yes, because enforcement is not necessary to fulfil the definition of "law"

No, because enforcement is necessary to fulfil the definition of “law”.

Yes, because the states themselves recognise the existence of international law.

Why is international law necessary?

It determines rules for functioning of the international community

It enables states to act in a protected environment without enemies

It is not necessary

It’s easier to do business for big undertakings

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It determines rules for functioning of the international community

It enables states to act in a protected environment without enemies

It is not necessary

It’s easier to do business for big undertakings

Which of the following preconditions have to be fulfilled, so that somebody is an “actor” according to international economic law?

The “subject” is empowered to conclude binding international agreements

The “subject” is able to bear risks

The “subject” is able to take over obligations, at least according to national law.

The “subject” is older than 16 years

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The “subject” is empowered to conclude binding international agreements

The “subject” is able to bear risks

The “subject” is able to take over obligations, at least according to national law.

The “subject” is older than 16 years

In which of the following cases does the state Y infringe “the principle of exclusive jurisdiction” of state X?

A citizen of state X lives in state Y and does not pay any dues. A court in state Y condemned the X-citizen.

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. The state Y does nothing against the X-citizen during his time in state X. As the X-citizen ret

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. A court in state Y condemned the X-citizen although the X-citizen has moved back to X.

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. A court in state Y condemned the X-citizen although the X-citizen has moved back to X. Therefo

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A citizen of state X lives in state Y and does not pay any dues. A court in state Y condemned the X-citizen.

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. The state Y does nothing against the X-citizen during his time in state X. As the X-citizen ret

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. A court in state Y condemned the X-citizen although the X-citizen has moved back to X.

A citizen of state X has lived in state Y for a very long time and has left Y one year ago. During his time in the state Y the X-citizen has not paid any dues. A court in state Y condemned the X-citizen although the X-citizen has moved back to X. Therefo

Ius Cogens …

… is a rule, which always prevails any negotiated rules.

… allows deviations.

...is the opposite of any valid rules.

… can be changed by negotiations.

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… is a rule, which always prevails any negotiated rules.

… allows deviations.

...is the opposite of any valid rules.

… can be changed by negotiations.

An extract of Art 55 of the UN‑Charter determines the following: “With a view to the creation of conditions of stability and well-being which are necessary for peaceful and friendly relations among nations based on respect for the principle of equal rights and self-determination of peoples, the United Nations shall promote: […] c) universal respect for, and observance of, human rights and fundamental freedoms for all without distinction as to race, sex, language, or religion.” This is an example of the general principle of ...

the duty to cooperate

souvereign equality of nations

exclusive jurisdiction within its own territory

non-discrimination

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the duty to cooperate

souvereign equality of nations

exclusive jurisdiction within its own territory

non-discrimination

Which reason makes it "necessary" that international law is effective?

Interstate activities are growing

Who else cares?

A lot of countries can only trade with an effective international law

Too many people are dependent on an effective international law

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Interstate activities are growing

Who else cares?

A lot of countries can only trade with an effective international law

Too many people are dependent on an effective international law

Which of the following requirement is NOT necessary to fulfil the definition of law?

The topics, which are covered, are defined by a framework - the constitution

Usually the rules define the behaviour, which is valid

The procedure to enact law is changing on a case-by-case-basis

A sanction and an enforcing authority exists

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The topics, which are covered, are defined by a framework - the constitution

Usually the rules define the behaviour, which is valid

The procedure to enact law is changing on a case-by-case-basis

A sanction and an enforcing authority exists

Which of the following organizations is not an actor in regards to international economic law?

the Labour- and Social Court Vienna

the Austrian National Bank

the International Monetary Fund

the Organization for Economic Cooperation and Development

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the Labour- and Social Court Vienna

the Austrian National Bank

the International Monetary Fund

the Organization for Economic Cooperation and Development

What is meant, if an offer is “sufficiently definite” according to CISG?

The relevant goods are defined clearly enough concerning the price.

The relevant goods are defined clearly enough concerning the offeror and offeree.

The relevant goods are defined clearly enough concerning the amount and the price

The relevant goods are defined clearly enough concerning the date of delivery.

The relevant goods are defined clearly enough concerning the price.

The relevant goods are defined clearly enough concerning the offeror and offeree.

The relevant goods are defined clearly enough concerning the amount and the price

The relevant goods are defined clearly enough concerning the date of delivery.

If party A had a loss because the party B breached the contract…

… A cannot do anything, if it is not possible to prove the preconditions for the loss and the damage

… A has the possibility to claim damages without any further requirements

… B cannot do anything

… A has the possibility to claim damages if B cannot prove that he has not caused the damage

… A cannot do anything, if it is not possible to prove the preconditions for the loss and the damage

… A has the possibility to claim damages without any further requirements

… B cannot do anything

… A has the possibility to claim damages if B cannot prove that he has not caused the damage

The CISG…

… provides material rules and procedurals rules

… provides only procedurales rules

… is valid without any agreements

… is valid worldwide

… provides material rules and procedurals rules

… provides only procedurales rules

… is valid without any agreements

… is valid worldwide

The CISG is in general (assuming that the rest of the preconditions are fulfilled!) not applicable to …

… the sales of electricity

… a purchase contract

… two contracts between A and B, where A sells computer to B and B sells paper to A

… a contract between two businessmen concerning the sale of cars

… the sales of electricity

… a purchase contract

… two contracts between A and B, where A sells computer to B and B sells paper to A

… a contract between two businessmen concerning the sale of cars

The CISG includes all rights and obligations …

… except property questions of the sold goods

… like rules for the formation of the contract

… except the validity of the contract

… like the validity of the contract

… except property questions of the sold goods

… like rules for the formation of the contract

… except the validity of the contract

… like the validity of the contract

What are Incoterms®?

Standardized rules that harmonize risks and costs but no tasks

Standardized rules that harmonize risks and costs and tasks

Standardized rules that harmonize neither risks nor costs but tasks

Standardized rules that harmonize risks or costs or tasks

Standardized rules that harmonize risks and costs but no tasks

Standardized rules that harmonize risks and costs and tasks

Standardized rules that harmonize neither risks nor costs but tasks

Standardized rules that harmonize risks or costs or tasks

Which obligation does a buyer have to fulfill concerning “take delivery” according to CISG?

He has to do everything that the seller is in the right position to make delivery

He pays the price and picks up the goods from the seller.

He waits for the delivery in his business rooms

He does nothing and accepts whatever the seller does.

He has to do everything that the seller is in the right position to make delivery

He pays the price and picks up the goods from the seller.

He waits for the delivery in his business rooms

He does nothing and accepts whatever the seller does.

Does any special requirement concerning the form of contracts exist according to CISG?

No, the written form is not mandatory, the oral form is mandatory.

Yes, the written form is mandatory.

Yes, the oral form is mandatory.

Yes, the information has to reach the other party.

No, the written form is not mandatory, the oral form is mandatory.

Yes, the written form is mandatory.

Yes, the oral form is mandatory.

Yes, the information has to reach the other party.

Are there any rules for consequences within the CISG if one party breaches the contract?

No, because this is not necessary

Yes, but nothing happens if the party, who breached the contract, objects the breach.

Yes, there are special rules dependent on the breach itself.

No, because the parties are obliged to negotiate the consequences.

No, because this is not necessary

Yes, but nothing happens if the party, who breached the contract, objects the breach.

Yes, there are special rules dependent on the breach itself.

No, because the parties are obliged to negotiate the consequences.

The seller and the buyer of a wedding cake did not make an agreement concerning the time of delivery, but they spoke about the date of the wedding. What is valid according to CISG?

The contract is not formed due to the fact that it is not sufficiently definite.

The date is determinable based on the contract type and therefore the cake has to be delivered on the wedding date.

The buyer can define a date as long as he defines a date, which is before the wedding

The seller can deliver whenever he wants as long as he delivers before the wedding

The contract is not formed due to the fact that it is not sufficiently definite.

The date is determinable based on the contract type and therefore the cake has to be delivered on the wedding date.

The buyer can define a date as long as he defines a date, which is before the wedding

The seller can deliver whenever he wants as long as he delivers before the wedding

Business Law basics

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