Question | Answer |
What are the essential elements of a Simple Contract? | 1. The Offer, 2. Duration of Offer, 3. Acceptance, 4. Consideration, 5. Promissory Estoppel, 6. Legality, 7. Other Elements, 8. Formalities, 9.Privity of Contract |
How may contractual terms be implied? Explain both. | In Fact & In law |
What remedies exist for breach of contract? | |
Name 5 terms which are said to be fundamental to a shipping contract and constitute a breach which can lead to terminate the contract? | 1. That the ship is fully classed.
2. That the ship is to proceed on a voyage without deviation.
3. That the ship is 'expected ready to load' by a certain date.
4. The ships flag in wartime.
5. That no dangerous or unlawful goods are to be shipped. |
Name 4 terms which are said to be treated as 'innominate terms' when discussing breach of Contract? | 1. A term as to seaworthiness
2. A term as to the ships carrying capacity.
3. A term as to speed and consumption.
4. A term as to the type of cargo to be loaded. |
Explain exclusion clauses. | An exclusion clause is where one party to the contract has incorporated a term in the contract which purports to exclude his liability for his own breach of the contract. |
Explain a 'Frustrated Contract' | The contract is said to be frustrated where it becomes impossible to perform by an outside intervening event which was not possible to foresee when the contract was formed and which was not the fault of either party. |
Name the six 'Vitiating Factors' which make a contract invalid or ineffectual? | 1. Duress and undue Influence
2. Incapacity
3. Unenforceable contracts
4. Force Majeure
5. Void and Illegal Contracts
6. Mistake |
Name the first five sections of a Gencon voyage charterparty. | 1. Ship Broker
2. Place and Date
3. Owners
4. Charterers
5. Vessels Name |
Name sections 6-10 of a Gencon voyage charterparty. | 6. GT/ NT
7. DWT all told on summer load lines in Metric tonnes
8. Present Position
9. Expected ready to load
10. Loading port or place |
Name sections 11-15 of a Gencon voyage charterparty. | 11. Discharging port or place
12. Cargo
13. Freight rate
14. Freight payment
15. Vessels cargo handling gear |
Name sections 16-20 of a Gencon voyage charterparty. | 16. Laytime – loading/ discharging
17. Shippers/ Place of Business
18. Agents - Loading
19. Agents – Discharging
20. Demurrage rate |
Name sections 21-26 of a Gencon voyage Charterparty. | 21. Cancelling date
22. General average
23. Freight Tax
24. Brokerage commission
25. Law and Arbitration
26. Additional Clauses |
What are clauses 2-5 in the Gencon Voyage Charterparty. | 2. Owners Responsibility Clause
3. Deviation Clause
4. Payment of Freight
5. Loading/ Discharging |
What are clauses 6-10 in the Gencon Voyage Charterparty. | 6. Laytime
7. Demurrage
8. Lien Clause
9. Cancelling Clause
10. Bill of Lading |
What are clauses 11-15 in the Gencon Voyage Charterparty. | 11. Both To Blame Collusion Clause
12. General Average and New Jason Clause
13. Taxes and Dues Clause
14. Agency
15. Brokerage |
What are clauses 16-20 in the Gencon Voyage Charterparty. | 16. General Strike Clause
17. War Risks
18. General Ice Clause
19. Law and Arbitration |