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DRIVE--SPRING
2014
PROGRAM-MBADS
(SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDIB (SEM 2)
SUBJECT
CODE & NAME-IB0017 –International Business Environment and International
Law
BK
ID-B1414
CREDIT
& MARKS-4 CREDITS, 60 MARKS
Q1.
Explain PEST analysis. How is it used in international business?
(PEST,
usage) 8, 2
Answer.
PEST
analysis and its uses in international business
PEST is a well-known and widely
applied tool when analyzing what the international market has to offer.
International marketing environment. International PEST Analysis would
consider:
·
How
easy will it be to move from purely domestic to international marketing?
·
Would
your business benefit from inward foreign investment?
·
What
is the nature of competition within each individual market, and how will
companies from other nations
Q2. Explain the various incoterms
involved in international contract.
(Incoterms)
10
Answer.
Incoterms
involved in international contract
When parties agree on
transportation arrangements it is a good idea to make use of Incoterms. This is
a document published by the International Chamber of Commerce ('ICC') in an
attempt to standardise the meaning of the terms
Q3.
Discuss the general principles of the Law of Contract. What is an agreement?
(Law
of contract principles, Agreement)7, 3
Answer.
General contractual principles
The contracts are based on the
principles of the common law and civil law. Let us study these principles.
A contract is formulated by an
offer and an acceptance
An offer covers all the important
factors in the contract. The person to whom the offer is being given must accept
it without making any alterations and this is referred to as the as the ‘mirror
image’ rule. If there is any mismatch between the actual and accepted offer,
then it is termed as the counter offer and no further contract is made until
the
Q4.
Write short notes on:
a)
Letter of credit
b)
Export financing
(Meaning
and role of letter of credit, meaning and role of Export financing)5, 5
Answer.
a)
Letter of credit
A Letter of Credit (LC) or
documentary credit is a promise to pay. It is generally used for international
sales transaction. It is used to reduce risks such as, unfamiliarity with the
customs or political instability in a foreign country.
Q5.
Discuss the rights of an unpaid seller. What are the remedies available to the
buyer against seller for breach of contract?
(Rights
of unpaid seller, Buyer’s remedies)5, 5
Answer.
Rights
of unpaid seller
According to Section 45, a seller
of goods is deemed to be an ‘unpaid seller under the following circumstances:
·
When
the whole of the price has not been paid or tendered.
·
When
a bill of exchange or other negotiable instrument has been received as
conditional payment and the
Q6.
What are the modes of settlement of disputes in international business?
Discuss.
(Modes
of dispute settlement)10
Answer.
Modes
of dispute settlement
The methods of settlement of international
disputes may be divided into two main categories: (a) Pacific means of
settlement and (b) Compulsive or forcible means of settlement.
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