Part V. ‘Contracts and negotiations’

62. … is when the negotiating parties offer a short summary of the company’s history and activities, and also exchange statements of each side’s interests.

    1. exchanging information

    2. bidding

    3. agreeing procedure

    4. relationship building

63. A part of negotiations to suggest idea is called …

    1. bargaining

    2. generating options

    3. bidding

    4. settling

64. Negotiations between more than two parties are called …

    1. collaborative

    2. international

    3. confrontational

    4. multiparty

65. The unjustified failure of a party to perform a duty or obligation specified in a contract is called …

    1. breach of contract

    2. enforcement

    3. agreement implied by conduct

    4. illegal agreement

66. A contract for a building project in which the company doing the work must finish the work and leave the building, factory, etc. ready to operate is called …

    1. service contract

    2. hire purchase contract

    3. turnkey contract

    4. employment contract

67. An agreement to buy something by making payments over a period of time is called …

    1. employment contract

    2. service contract

    3. turnkey contract

    4. hire purchase contract

68. The strategy for the both negotiating parties to get benefits is called …

    1. win-lose

    2. win-win

    3. deal-oriented

    4. short-termist

69. An enforceable agreement that can be written, oral, or implied by the actions or intentions of the parties is called …

    1. regulation

    2. maxim

    3. principle

    4. contract

70. … makes a contract valid.

    1. law and mental ability

    2. sound mind and mutual acceptance

    3. signature and stamp

    4. legal capacity

71. Structure of contract. Sellers have sold and Buyers have bought about 1000 metric tons of Russian Export Blend Crude Oil hereinafter referred as “Goods” FOB one safe port Baltic/ Black Sea or through pipeline “Druzhba” DAF border pumping station Adamavo Zastava/ Budkovitse is a part of …

    1. Terms of Payment

    2. Guarantee of the Quality

    3. Purpose and Scope of the Contract

    4. Arbitration

72. Structure of contract. Should any circumstances arise which prevent complete or partial fulfillment by either Party of their respective obligation under this Contract (except non-payment under the provision thereof) nemely: fire, ice conditions or other acts of elements, war, military operations, blockade, strikes… is a part of …

    1. Insurance

    2. Force Majeure

    3. Claims

    4. Specifications

73. The word which is a synonym of “in that place, in that respect” is …

    1. herein

    2. thereafter

    3. thereinafter

    4. therein

74. The general conditions of the contract are as follows: The contract is … initially to 5 years, but maybe renewed for a further year based on an annual evaluation of your company’s performance.

    1. limited

    2. valuable

    3. responsible

    4. true

75. When contract is thought to be …, damages are awarded to the innocent party as compensation for financial loss or injury.

    1. breached

    2. lost

    3. fraud

    4. broken

76. “Mashexport Ltd.”, Moscow, ... referred to as the Seller, and British Asbestos Ltd., ... referred to as the Buyers.

    1. hereinafter

    2. hereby

    3. hereof

    4. hereabouts

77. All disputes and differences which may ... out of the Present Contract.

    1. arise

    2. appear

    3. come

    4. be

78. The total value of the goods ... the present Contract makes 10.000 US dollars.

    1. in

    2. at

    3. under

    4. with

79. The Buyer has the right to claim ... the Seller within 180 days.

    1. on

    2. –

    3. with

    4. to

80. The cost of the defective goods, of shortage while packing being intact, penalty are deducted by the Buyer ... the 3% sum.

    1. in

    2. out of

    3. at

    4. from

81. The Seller is to remit the balance ... the Buyer within 30 days from the date of receipt of the claim.

    1. due to

    2. for

    3. to

    4. according to

82. The Buyer should take all risk insurance cover on a door-to-door ....

    1. term

    2. bares

    3. ground

    4. –

83. The policy would ... fire, flood, theft, burglary, and the usual contingencies affecting this ... of enterprise.

    1. consist… kind

    2. contain…form

    3. include…kind

    4. contain…kind

84. The Seller should settle the draft for 25.000 Dm, at Buyers bank as soon as they ... the shipping documents.

    1. hand over

    2. give

    3. receive

    4. –

85. The Buyer should arrange all costs, insurance and ... facilities for the client handling consignments from the ... to the port, airport of the importers country.

    1. arrange…stock

    2. freight…factory

    3. freight…shop

    4. arrange…factory

86. The Seller should take care of all ..., including customs formalities.

    1. specification

    2. documentation

    3. papers

    4. –

87. The third party operates on 4.5 per cent ... on c.i.f. values.

    1. discount

    2. price

    3. commission

    4. –

88. The Buyer should present (give) the shipping ... in advance.

    1. timetables

    2. schedules

    3. programs

    4. –

89. The Seller should take the usual ... for handling cargo.

    1. duties

    2. responsibilities

    3. care

    4. –

90. The Seller shall ... all the charges to the place of destination.

    1. bear

    2. bring

    3. accept

    4. –