(a) In relation to internal contracts of sale, briefly explain the following;

(i) Cost, insurance and Freight (CIF) contracts.0 (4 marks)

(ii) Free alongside ship (FAS) contracts (4 marks)

(iii) Ex-ship contracts. (4 marks)

(b) Discuss the rules that govern sale by auction. (8 marks)
(Total: 20 marks)

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