FOREIGN TRADE UNIVERSITY FINAL EXAM QUESTIONS

HCMC CAMPUS INTRODUCTION TO LAW AND LEGAL,

FACULTY OF ETHICAL ISSUES IN BUSINESS (PLUE105)
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ECONOMICS AND LAW
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Semester: 1 Academic year: 2021 – 2022
NO. 1 Full-time/Part-time: Full-time
Class code: 530, 531
Form of Exam: Written exam
Duration: 90 minutes (excluding paper distribution time)
PART 1. TRUE/ FALSE (6 MARKS)
Are following clauses true or false? Give your explanations and examples.
1. In Vietnam, business activities must be consistent with ethical values established and included
in legal documents. (1 mark)
2. In countries of Civil law, liquidated damages (L/D) is commonly applied to prevent breaching
acts of involved contracting parties. (1 mark)
3. CISG 1980 will become the governing law for the International Sale of Goods contract in case
Vietnam Commercial Law is chosen by involved parties. (1 mark)
4. Under Vietnam Commercial Law 2005, Quality and Delivery are fundamental clauses of an
International Sale of Goods contract. (1 mark)
5. The foreign arbitral award shall be null and void without being recognized and legally
enforced in Vietnam. (1 mark)
6. Arbitration centres shall apply substantive law to identify rights, obligations and liabilities of
involved contracting parties. (1 mark)
PART 2. CASE STUDY (4 MARKS)
On October 10, 2021, Company A (Vietnam) and Company B (Australia) entered into a contract
whereby Company B sold 2,000 sets of electronic devices to Company A. The agreement of
Governing law and Dispute settlement is as follow:
“This Contract shall be governed by and interpreted in accordance with the UK law.
Any disputes arising from or in connection herewith shall be finally resolved through amicable
mediation. In the event that there is no a mediation agreement, the dispute shall be settled by the
ICC International Court of Arbitration. The arbitral award shall be final and legally enforced.
The losing party shall perform the arbitral award without delay.”.
1. How do you understand the agreement? Show legal risks arising from it. (2 marks)
2. How can you amend the agreement to avoid legal risks? (2 marks)
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Note: - This paper contains 02 parts.
- Students are allowed to use materials during the examination.
- Invigilators shall not provide further explanation.