Q:

Logistics Processes Module 5 Contracts QUIZ give me just correct answers from the 4 options

1. The basis of a contract is relatively simple. Someone or someones will do something or not do something for an exchange for reward of some value. The three elements therefor of a contract are:

A) Offer, Bailment, Interpretation

B) Offer, Acceptance, Consideration

C) Offer, Consideration, Interpretation

D) Offer, Reward, Bailment

2. If a friend delivers a package at no charge, they are:

A) A Bailee for Hire B) The Lien Holder C) A Gratuitous Bailee D) A Gratuitous Bailor

3. We sometimes ship products that are quite susceptible to damage. Some products are so susceptible to damage that they could become damaged without even shipping them. Simple processes like stacking or repackaging could be enough to damage them. In the world of contractual liability between shippers and carriers, we could argue that this damage should be exempt from claim due to the product's:

A) Double Indemnity B) Jurisprudence C) Act of God D) Inherent Vice

4. I am shipping product to the United States from Canada. Is the Bill of Lading issued in Canada, or in the U.S.?

A) Canada B) The U.S. C) It is a joint Bill D) It does not matter from where the bill is issued

5. A Bill of Lading is many times the primary legal document for the shipment of goods. What exactly is a primary purpose of a Bill of Lading?

A) Evidence of Title, Receipt of Goods, A Memorandum of Terms B) Orders from the CTA, Document for Connecting Carriers C) International Convention, Clauses, Liability Limitation D) Offset for Act of God Clause, Limitation of Jurisdiction 6. With so many carrier/logistics supplier options available these days, why would I bother to enter into logistics contracts with any of them?

A) It allows me to get a service package beyond the service offerings of a non-contract carrier B) It eliminates the need for escalation clauses due to increased or reduced business C) It allows rates to fluctuate per the changing market conditions D) It reduces load volume stability for the carrier

7. When working within a contract, what are some of the rules pertaining to a Bill of Lading (BOL) and the receipt of goods?

A) Signing the BOL for inbound goods is optional B) All receivers of product must sign the Bill of Lading for inbound goods shipments C) Contract terms are the sole property of the shipper contractor and should not be shared. D) Only the receivers named in a contract are responsible for signing the bill of lading on receipt of goods. Third parties are exempt.

8. An ocean bill of lading is not used as a primary document/contract. So then what is it?

A) It is simply used as a packing slip B) A document that acts as a receipt of goods. C) It actually is used as the contract in a shipment by ocean/water D) A release of indemnity

9. Who is a contractual partner in a contract of carriage?

A) The carrier B) Anyone that handles/stores or takes possession of the freight. C) The shipper, the carrier and the receiver D) The shipper and the carrier

10. Incoterms are used to delineate Insurance, and other terms of sale. When parties agree to them, are they now part of a contract of carriage?

A) Yes, once these terms of sale are agreed to they become the contract of carriage and are enforceable through that contract B) No, Incoterms are terms of sale, and unless they are actually written into the contract of carriage, they are not enforceable through the contract of carriag