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L5M3 Exam Dumps : Managing Contractual Risk

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Managing Contractual Risk Questions and Answers

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Question 1

A contract term which is difficult to classify at the time of drafting a contract is known as?

Options:

A.

condition

B.

warranty

C.

consideration

D.

innominate

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Question 2

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

Options:

A.

mediation

B.

negotiation

C.

arbitration

D.

conciliation

Question 3

Kranky Kat Ltd has just been through an adjudication process with a supplier it worked with who committed a breach in the contract. Kranky Kat is not happy with the outcome of the adjudication, what can Kranky Kat do?

Options:

A.

move on to litigation

B.

appeal the decision

C.

nothing - the decision made by the adjudicator is binding

D.

nothing - the decision made by the adjudicator is legally enforceable

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