Arbitration and Maritime Law

Description: This quiz is designed to test your knowledge of Arbitration and Maritime Law.
Number of Questions: 15
Created by:
Tags: arbitration maritime law
Attempted 0/15 Correct 0 Score 0

Which of the following is not a type of arbitration?

  1. Ad hoc arbitration

  2. Institutional arbitration

  3. Mediation

  4. Expert determination


Correct Option: C
Explanation:

Mediation is a form of alternative dispute resolution in which a neutral third party helps the parties to reach a settlement. It is not a type of arbitration.

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


Correct Option: D
Explanation:

The Arbitration and Conciliation Act, 1996 is a comprehensive law that governs arbitration in India. It provides a framework for the conduct of arbitration proceedings, promotes arbitration as a means of resolving disputes, and enforces arbitral awards.

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


Correct Option: D
Explanation:

The Arbitration and Conciliation Act, 1996 does not provide for setting aside an arbitral award on the ground that it is excessive or inadequate.

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


Correct Option: C
Explanation:

In ad hoc arbitration, the parties appoint their own arbitrators and are free to choose the rules of procedure. In institutional arbitration, the arbitrators are appointed by an arbitral institution and the rules of procedure are set by the arbitral institution.

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


Correct Option: D
Explanation:

The arbitral tribunal hears the evidence and arguments of the parties, decides the dispute and makes an award, and enforces the award.

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


Correct Option: A
Explanation:

An arbitration agreement is a stand-alone agreement between the parties to submit a dispute to arbitration. An arbitration clause is a clause in a contract that provides for arbitration of disputes arising out of the contract.

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


Correct Option: C
Explanation:

An arbitration agreement prevents the parties from litigating the dispute in court and gives the arbitral tribunal exclusive jurisdiction over the dispute.

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


Correct Option: D
Explanation:

Arbitration is faster and less expensive than litigation, it is more confidential than litigation, and it is more flexible than litigation.

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


Correct Option: D
Explanation:

Arbitration is less formal than litigation, it is less transparent than litigation, and arbitral awards are not subject to appeal.

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


Correct Option: D
Explanation:

The court can appoint the arbitrators, enforce the arbitral award, and review the arbitral award.

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


Correct Option: C
Explanation:

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. A maritime lien is created by operation of law, while a mortgage is created by agreement between the parties.

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


Correct Option: C
Explanation:

The priority of a maritime lien depends on the type of lien. Some maritime liens have priority over mortgages, while others do not.

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


Correct Option: A
Explanation:

A maritime lien gives the lienholder the right to seize and sell the vessel.

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


Correct Option: C
Explanation:

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. A charterparty is a long-term contract, while a bill of lading is a short-term contract.

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


Correct Option: D
Explanation:

The shipowner is liable for damage to cargo caused by the negligence of the crew, an act of God, or a latent defect in the vessel.

- Hide questions