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L5M3 Managing Contractual Risk Paper *6.
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1.
Which of the following is the best explanation of a minor breach of contract?
3.
Is an anticipatory breach as valid as an actual breach of contract?
4.
Which of the following are recognized conflict resolution approaches? Select 3 that apply
5.
A claimant may be able to claim a _______________ based on work already performed if he has terminated the contract for a repudiatory breach by the defendant.
6.
Which of the following statements is correct?
7.
Which one of the following statements correctly describes the difference between express and implied terms?
8.
Which of the following is a common law remedy?
9.
The process in which a neutral (means not supporting any one side) third party assists the parties in conflict to reach a solution
10.
In most cases this denotes a claim for a reasonable sum in respect of services or goods supplied to the defendant
11.
Which of the following will never constitute grounds for the principle of frustration to come into play?
12.
Which of the following are often used in conjunction with service level agreements (SLAs) as a method of resolving disputes over the performance of a contract?
13.
Which method of dispute resolution is the least expensive?
14.
Which of the following best describes specific performance?
16.
Which of the following statements is false?
17.
Example of termination clauses includes which THREE?
18.
_____________ terms are terms which are assumed to exist by virtue of common law and statue (legislation) and therefore form part of the contract whether or not they are mentioned within it.
19.
A claim for quantum meruit may arise where the parties:
- Have not agreed a contract
- Have no agreement to pay a reasonable sum for services supplied
- Have not agreed a price
- Have carried out work under scope of the contract
20.
Which of the following is the best definition of the term ‘reliance measure’ ?
21.
The Five conflict management style orientations are:
22.
Which of the following are the five styles of managing conflict?
23.
A situation in which solutions exist so that both parties are trying to find a mutually acceptable solution to a complex conflict is known as which of the following?
24.
Super Clean Group (SCG) is a large facilities management organization. One of its procurement officers (PO) has a meeting with a cleaning company about a potential future contract.
The cleaning company has already submitted a quote to the PO, based on a specification that was provided. The PO explained that he had the authority to commit SCG to the contract and confirmed that price was acceptable for the services being offered. The PO and the cleaning company agreed that the contract would commence in one month’s time.
In addition to the offer and acceptance which of the following from this scenario make this a legally binding contract?
- Precedence
- Consideration
- Capacity
- Warranty
25.
In the context of contract formation, ‘acceptance’ must be which of the following for it to constitute a legally binding agreement between the parties? Select three that apply
26.
An invitation to treat should not be treated as an offer. Is this statement correct?
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