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L5M3 – Managing Contractual Risk

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Showing 1–3 of 10 questions

Question 1

Which of these statements about Guarantees are TRUE? Select 2

Select all that apply, then click Submit answer.

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    A Guarantee is a secondary obligation of a contract
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    A guarantor's responsibility is higher than the Principle
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    A guarantee is a promise to repair or replace an item within a defined period of time
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    A guarantor's responsibility cannot be higher than the Principle
Question 2

Which of the following would constitute an offer? Select TWO:

Select all that apply, then click Submit answer.

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    a display in a shop window
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    an advert on a website
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    an auction
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    a bid on an auction
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    a price proposal that is valid for 14 days
Question 3

Which of the following situations would be considered a minor breach of a contract? Select TWO:

Select all that apply, then click Submit answer.

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    a painter is contracted to paint a room white but paints it magnolia as there was no white paint available
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    a consultant has given bad advice
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    a zoo orders three baby lions and is given three baby tigers
    a supplier has breached a non-disclosure agreement
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    A supplier delivers a lorry-load of produce six hours late due to a burst tyre.