QUESTION 27
Which of the following will you put into box 5?

QUESTION 28
Which of the following will you put into box 1?

QUESTION 29
Sally is shopping and sees an advert in a travel agent’s window that says that flights to Malta are 50% off. She enters the shop and begins to speak to a travel agent who informs her that the poster she’d seen is out of date. Is the travel agent obliged to give Sally the discounted flight?

QUESTION 30
David is selling his house and Barbera would like to buy it. David is expecting to get £100,000 for his house. Barbera offers £80,000 and David asks Barbera if she’ll pay £90,000 instead. Barbera says no. After a week David hasn’t had any other offers so would like to accept Bar-bera’s offer. Can he do this?

QUESTION 31
Service Credits are a form of what?

QUESTION 32
Which of the following will you put into box 6?

QUESTION 33
When assessing damages caused by a breach, which of the following statements is true?

QUESTION 34
What is the purpose of conflict resolution?

QUESTION 35
Which of the following will you put into box 5?

QUESTION 36
When a contract becomes ‘crystalised’ what does this mean?

QUESTION 37
What is the first stage in conflict resolution?

QUESTION 38
Which of the following is usually the default method for resolving disputes?

QUESTION 39
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?

QUESTION 40
A warranty is a minor term of a contract. Is this TRUE?

QUESTION 41
Which of the following conflict resolution styles may involve a private caucus and a joint ses-sion?

QUESTION 42
Terry’s Toys is a Toy Manufacturer who has an agreement to provide Toys to an online re-tailer. The retailer has ordered 500 toys from Terry and Terry has incurred costs of £3000 manufacturing the toys. Halfway through production the retailer calls Terry to cancel the order. Terry reads through the contract and sees a liquidated damages clause of £1000. What should Terry do?

QUESTION 43
Which of the following is not a form of ADR (Alternative Dispute Resolution)?

QUESTION 44
A failure to perform a provision of a contract which does not affect the end performance of the contract is known as what?

QUESTION 45
Derrek owns a factory and employs a Facilities Management Company called Balls FM to look after certain aspects of the factory including cleaning and testing the machinery to ensure they are in good working condition. One day he realises that one of the cleaners doesn’t work for Balls FM, he works for another company called Bells FM. Which of the following statements regarding subcontracting is true?

QUESTION 46
Sam is a factory manager and has purchased a new fixed asset on a loan purchase agreement. There is a forbearance agreement between the Factory and the provider. What does this mean?

QUESTION 47
Which of the following will you put into box 3?

QUESTION 48
Which of the following will you put into box 4?

QUESTION 49
Which of the following will you put into box 1?

QUESTION 50
Tyrone Enterprises has just come out of a meeting with one of its suppliers Bob. The meeting has not gone well and the contract has become frustrated. What does this mean?