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Free L4M3 Exam Braindumps (page: 22)

Page 22 of 48
PDF with 189 Questions

Company A based in Canada signed a commercial contract with Company B in Egypt. Both countries are Contracting States to Vienna Convention on Contracts for the International Sale of Goods. The contract states that "The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of Canada".
Which of the following set of rules will be applied if dispute between contracting parties occurs?

  1. CISG
  2. Canada's legal system
  3. WTO rules
  4. Egypt's legal system

Answer(s): B

Explanation:

Where the sale of goods is between two businesses in different Contracting States, then it is international and the CISG rules of law automatically apply unless they have been excluded. A contract clause stating that the contract is subject to the legal systems and courts of a particular country overrides or excludes the CISG rules, since the local rules of that country would apply instead.
So the answer should be Canada's legal system.


Reference:

CIPS study guide page 49-52 LO 1, AC 1.2



According to rule of contract formation, which of the following is a valid acceptance?

  1. The person orally agrees to pay the offered price
  2. The person states that she is able to pay the offered price
  3. The person asks for a lower price
  4. The person says that she will think about it overnight

Answer(s): A

Explanation:

Once a valid acceptance takes place, a binding contract is formed. It is therefore important to know what constitutes a valid acceptance in order to establish if the parties are bound by the agreement.
There are three main rules relating to acceptance:
1. The acceptance must be communicated to the offeree.
2. The terms of the acceptance must exactly match the terms of the offer.

3. The agreement must be certain.
Among the answers:
"The person says that she will think about it overnight" does not match the terms of the offer. The offeree does not assure that she will accept the offer. "The person asks for a lower price": This is a counter-offer. "The person states that she is able to pay the offered price" is not certain. The offeree merely provides information on her financial ability.


Reference:

- Contractual agreement - offer and acceptance
- CIPS study guide page 33-35 LO 1, AC 1.2



Which of the following are the 'fundamental' labour standards laid down by the International Labour Organisation?
1. Elimination of child labour
2. Payment of a minimum wage
3. The right to collective bargaining
4. Abolition of forced labor

  1. 1, 2 and 4 only
  2. 2, 3 and 4 only
  3. 1, 3 and 4 only
  4. 1, 2 and 3 only

Answer(s): C

Explanation:

ILO Declaration on Fundamental Principles and Rights at Work was adopted in 1948. The Declaration commits Member States to respect and promote principles and rights in four categories, whether or not they have ratified the relevant Conventions.
These categories are: freedom of association and the effective recognition of the right to collective bargaining, the elimination of forced or compulsory labour, the abolition of child labour and the elimination of discrimination in respect of employment and occupation.


Reference:

- ILO Declaration on Fundamental Principles and Rights at Work
- CIPS study guide page 161-163 LO 3, AC 3.2



A senior procurement specialist in UK is preparing a specification in which ISO standards are used to send to global suppliers. Is this action appropriate?

  1. No, the procurement specialist must use BSI standards instead
  2. Yes, evert specification must have ISO standards
  3. Yes, ISO standards are globally recognisable
  4. No, ISO standards are unfamiliar to global suppliers

Answer(s): C

Explanation:

ISO standards are internationally agreed by worldwide experts. They overcome countries' differences and facilitate global trade. If a buying organisation is sourcing globally, they should use ISO standards within the specification.


Reference:

CIPS study guide page 93-94 LO 2, AC 2.1



Page 22 of 48



Post your Comments and Discuss CIPS L4M3 exam with other Community members:

Tina commented on September 20, 2024
I need to emphasis that this exam is extremely HARD! So prepare well or else you will fail. I got lucky and passed mine. But I used these dumps and some other sources.
Singapore
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Evangelista commented on June 30, 2024
the questions assist me to read and understand the material
UNITED KINGDOM
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Leungoinalame Gobuiwang commented on May 01, 2024
That was good questions to explore on
BOTSWANA
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Leungoinalame Gobuiwang commented on May 01, 2024
It bid challenging but I think I can manage
BOTSWANA
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Leungoinalame Gobuiwang commented on May 01, 2024
I think the L4M3 it needs a person to read to understand
BOTSWANA
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Rudasingwa Innocent commented on March 13, 2024
This prepares good managers for procurement
Anonymous
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Rudasingwa Innocent commented on March 13, 2024
This is good since it prepares the future managers for procurement.
Anonymous
upvote