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Arbitration and Maritime Law

This quiz is designed to test your knowledge of Arbitration and Maritime Law.

15 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

Which of the following is not a type of arbitration?

  1. Ad hoc arbitration
  2. Institutional arbitration
  3. Mediation
  4. Expert determination
Question 2 Multiple Choice (Single Answer)

What is the purpose of the Arbitration and Conciliation Act, 1996?

  1. To promote arbitration as a means of resolving disputes
  2. To provide a framework for the conduct of arbitration proceedings
  3. To enforce arbitral awards
  4. All of the above
Question 3 Multiple Choice (Single Answer)

Which of the following is not a ground for setting aside an arbitral award?

  1. The award was obtained by fraud or corruption
  2. The award is in conflict with public policy
  3. The award is based on a mistake of law
  4. The award is excessive or inadequate
Question 4 Multiple Choice (Single Answer)

What is the difference between ad hoc arbitration and institutional arbitration?

  1. In ad hoc arbitration, the parties appoint their own arbitrators, while in institutional arbitration, the arbitrators are appointed by an arbitral institution
  2. In ad hoc arbitration, the parties are free to choose the rules of procedure, while in institutional arbitration, the rules of procedure are set by the arbitral institution
  3. Both of the above
  4. None of the above
Question 5 Multiple Choice (Single Answer)

What is the role of the arbitral tribunal in arbitration proceedings?

  1. To hear the evidence and arguments of the parties
  2. To decide the dispute and make an award
  3. To enforce the award
  4. All of the above
Question 6 Multiple Choice (Single Answer)

What is the difference between an arbitration agreement and an arbitration clause?

  1. An arbitration agreement is a stand-alone agreement between the parties to submit a dispute to arbitration, while an arbitration clause is a clause in a contract that provides for arbitration of disputes arising out of the contract
  2. An arbitration agreement is binding on the parties, while an arbitration clause is not
  3. Both of the above
  4. None of the above
Question 7 Multiple Choice (Single Answer)

What is the effect of an arbitration agreement?

  1. It prevents the parties from litigating the dispute in court
  2. It gives the arbitral tribunal exclusive jurisdiction over the dispute
  3. Both of the above
  4. None of the above
Question 8 Multiple Choice (Single Answer)

What are the advantages of arbitration over litigation?

  1. Arbitration is faster and less expensive than litigation
  2. Arbitration is more confidential than litigation
  3. Arbitration is more flexible than litigation
  4. All of the above
Question 9 Multiple Choice (Single Answer)

What are the disadvantages of arbitration over litigation?

  1. Arbitration is less formal than litigation
  2. Arbitration is less transparent than litigation
  3. Arbitral awards are not subject to appeal
  4. All of the above
Question 10 Multiple Choice (Single Answer)

What is the role of the court in arbitration proceedings?

  1. To appoint the arbitrators
  2. To enforce the arbitral award
  3. To review the arbitral award
  4. All of the above
Question 11 Multiple Choice (Single Answer)

What is the difference between a maritime lien and a mortgage?

  1. A maritime lien is a charge against a vessel for services or supplies provided to the vessel, while a mortgage is a charge against a vessel to secure a loan
  2. A maritime lien is created by operation of law, while a mortgage is created by agreement between the parties
  3. Both of the above
  4. None of the above
Question 12 Multiple Choice (Single Answer)

What is the priority of a maritime lien?

  1. A maritime lien has priority over a mortgage
  2. A mortgage has priority over a maritime lien
  3. The priority of a maritime lien depends on the type of lien
  4. None of the above
Question 13 Multiple Choice (Single Answer)

What is the effect of a maritime lien?

  1. A maritime lien gives the lienholder the right to seize and sell the vessel
  2. A maritime lien gives the lienholder the right to foreclose on the mortgage
  3. Both of the above
  4. None of the above
Question 14 Multiple Choice (Single Answer)

What is the difference between a charterparty and a bill of lading?

  1. A charterparty is a contract between the shipowner and the charterer for the use of the vessel, while a bill of lading is a contract between the shipowner and the shipper for the carriage of goods
  2. A charterparty is a long-term contract, while a bill of lading is a short-term contract
  3. Both of the above
  4. None of the above
Question 15 Multiple Choice (Single Answer)

What is the liability of a shipowner for damage to cargo?

  1. The shipowner is liable for damage to cargo caused by the negligence of the crew
  2. The shipowner is liable for damage to cargo caused by an act of God
  3. The shipowner is liable for damage to cargo caused by a latent defect in the vessel
  4. All of the above
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