Ch. 5 LSCM Quiz with correct answers 100% 2026

Ch. 5 LSCM Quiz with correct answers 100% 2026 An increasingly popular way of settling disputes between international exporter-agent/distributor partners is - Correct Answer arbitration. Under the United Nations Convention on Contracts for the International Sale of Goods (CISG), when an offer is made - Correct Answer it cannot be withdrawn by the buyer or seller before its expiration date. The advertising clause of a contract between an exporter and an agent/distributor spells out the obligations of both parties in the areas of - Correct Answer advertising, trade show attendance, and ownership of ideas. Unless otherwise specified, contracts between an exporter and an agent and contracts between an exporter and a distributor are called - Correct Answer distribution contracts. Courts generally look at two criteria to determine if a contract is international. Those criteria are - Correct Answer economic and judicial criteria. A termination of an international contract between an exporter and an agent/distributor can be made by - Correct Answer either of the parties The United Nations Convention on Contracts for the International Sale of Goods (CISG) considers a contract to have been accepted - Correct Answer when all of the terms in the contract have been explicitly agreed to. According to Carfax, listing prices for used cars in January were up 40% from the same time last year (Carvana is now worth nearly $40 billion and sold around 400,000 cars this year.) This is partly due to the shortage in microchips needed for new cars. For ocean shipping the older "vintage" ships are averaging over 20 years old. Rust is a major issue and there are problems manning up crews because of the COVID restrictions in many ports. Describe the current market for these rust buckets. - Correct Answer Demand remains rampant and capacity at yards remains open for any available tonnage. An exporter's termination of a relationship with an agent/distributor on the basis of "convenience" is - Correct Answer fraught with potential problems. An agreement between an exporter and an agent/distributor may state that the laws of the exporter's country apply to governing of the contract. This can be complicated by - Correct Answer the government of the country where the agent/distributor is located, as it may say it has jurisdiction over the contract. Instead of using courts to settle disputes, an increasing number of contracts call for disputes to be settled by - Correct Answer an arbitration panel. If an international agreement between an exporter and an agent/distributor grants a monopoly to the agent/distributor, that agent/distributor is considered to be - Correct Answer an exclusive representative. When a party to a contract is continually looking for loopholes to avoid living up to the obligations of that contract, it can be said that - Correct Answer that party is not acting in good faith. A termination for "convenience" is - Correct Answer a termination for any reason other than non-performance. The most sensitive issue in an international distribution contract between an exporter and an agent/distributor is - Correct Answer termination.