Question 1

A company needs to source a product from oversea. It wants to overcome technical barrier to cross-border trade by using standards in the specification. Which of the following is most likely to be incorporated into that specification?

Options :

A : National standards

B : International standards

C : Company standards

D : Brands

Answer: B

Question 2

Which of the following usually have no legal standing? Select TWO that apply:

Options :

A : Commission

B : Framework agreement

C : Framework arrangement

D : Estimate

E : Service level agreement

Answer: C,D

Question 3

According to mailbox rule in some common law countries, at which point the offeree's acceptance will be effective?

Options :

A : When the letter of acceptance has been written.

B : When the letter of acceptance is received by the offeror.

C : When the letter of acceptance has been correctly addressed, its postage paid, and posted.

D : When the letter of acceptance is opened and its contents read by the offeree.

Answer: C

Question 4

A retailer prefers to display its best selling products and promotion programme on the building windows. According to rule of contract formation, this act will generally constitute...?

Options :

A : A legal capacity

B : An invitation to treat

C : An offer

D : A mailbox rule

Answer: B

Question 5

Which of the following is the term that describes an item bought for a single and non-recurring use or purpose?

Options :

A : Stock purchase

B : Call-off purchase

C : Ad-hoc purchase

D : Operational purchase

Answer: C

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