QUETSION #4 1. Contracting States of the New York Convention respects and recognizes private agreements to submit commercial controversies to arbitration, and likewise will not disturb awards in pursuit of that arbitration agreement even if granted in other States. a) True b) False 2.PIATCO, Fraport's Philippine partner that secured the contract to build the NAIA Terminal 3, was not a proper party in the ICSID because a) PIATCO is not an investor under the Philippines-Germany Bilateral Investment Treaty b) ICSID is not in the Philippines, and arbitration is territorial c) the expropriation was already done d) PIATCO is a Philippine company 3.IDENTIFY THE CLAUSE: "No amendment, modification or waiver of any provision of this Contract shall be effective unless in writing and signed by both Parties." a) Avoidance b) Assignment c) Annulment d) Amendment 4.The Convention on the International Sale of Goods is applicable only for signatory States. a) True b) False 5.IDENTIFY THE CLAUSE: "If a claim or allegation is brought against Buyer that the Goods created by Seller infringes on any Third Party's Intellectual Property Rights then Seller agrees to and shall defend the Buyer harmless against such claim or allegation, including reimbursing Buyer for all legal fees and expenses incurred in the investigation and defense of such claim or allegation and any royalties, payments, damages, penalties and interest that may be awarded therein or agreed to by Seller." a) Reimbursement b) Conformity c) Indemnity d) Intellectual Property