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A term can never be implied, it must always be expressed by the parties
A term can never be implied, it must always be expressed by the partiesA . 1,3 and 4 only B. 1, 2 and 3 only C. 1, 2 and 4 only D. 2, 3 and 4 onlyView AnswerAnswer: B Explanation: An implied term is a term which the courts imply...
Which of the following will be always automatically deemed as a consideration?
Which of the following will be always automatically deemed as a consideration?A . Promise to perform over and above an existing obligation B. Promise given to a third party C. Implied consideration D. Past considerationView AnswerAnswer: A Explanation: Consideration only appears in common law countries. Below are some examples of...
A purchase order can become a contract between supplier and purchaser if it is...?
A purchase order can become a contract between supplier and purchaser if it is...?A . Received by the supplier B. Accepted by the supplier C. Issued by the buyer D. Edited by the supplierView AnswerAnswer: B Explanation: A purchase order is a document sent from a buyer to a seller,...
Is this a right course of action?
Blakenall District Hospital (BDH) is a large hospital that is a major part of the government’s health service. Purchasing staff are in the habit of placing many long-term contracts with suppliers and sub-contractors. Whilst these contracts are usually carried out successfully, prices are often paid that are well over budget....
Which of the following documents are likely to have legal standing? Select TWO that apply:
Which of the following documents are likely to have legal standing? Select TWO that apply:A . Quotation B. Request for information C. Tender D. Requisition E. EstimateView AnswerAnswer: A,C Explanation: A quotation and a tender are both firm offers which have legal standing to the offeror. Tenders are more detailed...
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
A buyer and a supplier plan to sign a contract with cost-plus arrangement. If the cost base is $350 and the markup component is 11% then the invoice price will be...
A buyer and a supplier plan to sign a contract with cost-plus arrangement. If the cost base is $350 and the markup component is 11% then the invoice price will be...A . 393.26 B. 388.5 C. 368.5 D. 362View AnswerAnswer: B Explanation: Markup is the percentage between the profit and...
The changes to the contract are known as...?
XYZ Ltd and Engineer Corp signed a long-term supply contract in which both parties had agreed on performance targets. Recently, due to increased customer demands, XYZ Ltd realises that they should make changes to the contract with Engineer Corp with regards to performance management. These changes are approved and signed...
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
Which of the following is most likely to be an one-off contract?
Which of the following is most likely to be an one-off contract?A . Franchise Agreement B. Framework Agreement for supply of mono-crystalline silicon C. Contract for construction of a power plant D. Commercial lease agreement of an office buildingView AnswerAnswer: C Explanation: One-off contracts are used where a supplier is...
