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Download Managing Contractual Risk Exam Dumps
NEW QUESTION 21
Which of the following conflict resolution styles may involve a private caucus and a joint ses-sion?
- A. adjudication
- B. mediation
- C. litigation
- D. negotiation
Answer: B
Explanation:
This is Mediation. The private caucus is when each of the parties meets in private with the media-tor, this is usually after a joint session between the three parties. See p.71 for more information on mediation
NEW QUESTION 22
Which of the following statements about ‘Specific Performance’ are TRUE? Select TWO.
- A. Orders for Specific Performance can be a lengthy and costly process
- B. If a party is ordered to complete a ‘Specific Performance’ and doesn’t, they can be ar-rested
- C. Orders for Specific Performance can be a cheap and quick way to remedy a breach in contract
- D. The innocent party must mitigate all losses
Answer: A,B
Explanation:
1+3 are correct. Specific Performance tend to go through the courts so this is a lengthy and costly process. Because it’s mandated by the courts it means that if the offending party doesn’t comply, this is a criminal offence and they can be arrested. Option 2 is incorrect as it is the opposite of option 1. Option 4 is incorrect because there is no need for the innocent party to mitigate any losses. See p. 132 for more information on Specific Performance
NEW QUESTION 23
Which of the following will you put into box 6?
- A. adjudication
- B. mediation
- C. litigation
- D. arbitration
Answer: B
Explanation:
The correct answers are as follows:
This is mediation because 1) it’s private and 2) there’s a third party present
NEW QUESTION 24
Which of the following will you put into box 5?
- A. payment terms
- B. liability
- C. liquidated damages
- D. Contract variation
Answer: A
Explanation:
The correct answers are as follows:
This is payment terms – the discussion is about amending the payment terms from 60 days to 30 days.
NEW QUESTION 25
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