L4M3 Commercial Contracting Recap Week 2

In common law, which of the following documents is legally binding without the need for consideration?

• One Off Contract

• Hire Purchase

• Deed

• Blanket Order

Which of the following documents are likely to have legal standing? Select TWO that apply:

• Quote

• Requisition

• Tender

• Estimate

Which of the following is the term that describes an item bought for a single and non-recurring use or purpose?

• Call Off Purchase

• Adhoc Purchase

• Stock Purchase

• Operational Purchase

In a contract, both buyer and supplier agreed the lead time is 3 days. The contract also requires that any variation must be made in writing. Then the buyer places an order by phone call and requests delivery the next day, but the supplier delivers on the third day.

Can the buyer refuse to pay as the supplier did not deliver on time?

• No, the supplier delivered on time

• Yes, late delivery is a force majeure event

• Yes, the supplier has breached the contract

• No, as the buyer shortened the lead time

In the Battle of the Forms it is usually the most recently issued set of T&Cs that will take precedence...

• True

• False

CISG stands for Contracting for the International Sale of Goods

• True

• False

Which type falls within the CISG rules

• Ships

• Aircraft

• Electricity

• Raw Materials

The CISG does not cover validity or enforceability of the contract; these matters are determined by national laws...

• True

• False

Which one is not a type of Misrepresentation...

• Innocent

• Guilty

• Negligent

• Fraudulent

Which one is not a type of framework agreement

• One purchaser to one supplier

• one purchase to many suppliers

• Many purchasers to one supplier

• Many suppliers to one purchaser