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NEW QUESTION 41
Which of the following will you put into box 2?
Explanation:
The correct answers are as follows:
This is payment terms. The scenario mentions processing invoices, which is to do with paying the supplier
NEW QUESTION 42
Which of the following will you put into box 7?
Explanation:
The correct answers are as follows:
This is a condition. Again the food being organic would be fundamental to the contract as the health of the llamas depend on it.
NEW QUESTION 43
Harry is negotiating a contract for a new IT system for his business. He is investing heavily in the system and wants the system to be able to provide the services he requires for the next 10 years. However he is aware that technology is changing quickly and would like to include a clause in the contract to ensure that the system he is purchasing is useable for the next 10 years. What should Harry include in the contract?
Explanation:
Benchmarking should be included- this is common in long-term contracts where variables can af-fect the market over time. By including benchmarking, harry gets assurance that the product he purchases will meet the market expectations over the next 10 years. The other answers are incorrect; 1- there is no mention of liability in the question so this is incorrect. 2- service credits would be used if he is concerned the product would be offline/ not perform (it's a form of damages) but this isn't the case in this scenario. He's not worried about underperformance, he's worried about obsolescence. 4- change control is for when there are multiple versions of a contract due to amendments being made.
NEW QUESTION 44
Which of the following will you put into box 4?
Explanation:
The correct answers are as follows:
Getting help from another supplier to fulfil the order is subcontracting.
NEW QUESTION 45
......
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NEW QUESTION 41
Which of the following will you put into box 2?
- A. Time is of the Essence
- B. Payment Term
- C. Specification
- D. Subcontracting
Explanation:
The correct answers are as follows:
This is payment terms. The scenario mentions processing invoices, which is to do with paying the supplier
NEW QUESTION 42
Which of the following will you put into box 7?
- A. Warranty
- B. Condition
- C. Innominate Term
Explanation:
The correct answers are as follows:
This is a condition. Again the food being organic would be fundamental to the contract as the health of the llamas depend on it.
NEW QUESTION 43
Harry is negotiating a contract for a new IT system for his business. He is investing heavily in the system and wants the system to be able to provide the services he requires for the next 10 years. However he is aware that technology is changing quickly and would like to include a clause in the contract to ensure that the system he is purchasing is useable for the next 10 years. What should Harry include in the contract?
- A. limitation of liability
- B. service credits
- C. change control
- D. benchmarking
Explanation:
Benchmarking should be included- this is common in long-term contracts where variables can af-fect the market over time. By including benchmarking, harry gets assurance that the product he purchases will meet the market expectations over the next 10 years. The other answers are incorrect; 1- there is no mention of liability in the question so this is incorrect. 2- service credits would be used if he is concerned the product would be offline/ not perform (it's a form of damages) but this isn't the case in this scenario. He's not worried about underperformance, he's worried about obsolescence. 4- change control is for when there are multiple versions of a contract due to amendments being made.
NEW QUESTION 44
Which of the following will you put into box 4?
- A. Time is of the Essence
- B. Specification
- C. Payment Term
- D. Subcontracting
Explanation:
The correct answers are as follows:
Getting help from another supplier to fulfil the order is subcontracting.
NEW QUESTION 45
......