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NEW QUESTION 48
What is needed for a contract to be binding?
Answer:
Explanation:
A contract is written or verbal agreement, made between two or more parties that is legally enforceable.
For a contract to be legally binding it must include intention of parties entering into the contracts.
All parties must have the capacity to contract or be contracted.
They must be of a sound mind, there should be a promise (offer) for performance from the other party and an exchange (consideration) of one thing for another within an agreement for contract to be binding, and there must be an acceptance of the offeror's offer by the offeree.
NEW QUESTION 49
Which Incoterm applies here?
The supplier is responsible for delivering the goods to the buyer's premises, bearing all risk up until this point.
Answer: C
NEW QUESTION 50
What are the four stages of decommissioning?
Answer:
Explanation:
When a fixed asset reaches the end of its life, it requires decommissioning before reconditioning or disposal.
Decommissioning is to observe all the safety measures and technical procedures and stop active machinery or an asset from operation (example gas plan, generator, transformer etc.
Decommissioning process include the following aspect
1) Preparation: Plan the process
2) Dismantle: Take the asset apart and remove hazardous waste
3) Processing: make safe any hazardous waste
4) Disposal: Ensure paper work is received to confirm removal and disposal
NEW QUESTION 51
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