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NEW QUESTION 32
Which of these is NOT a stage in negotiation?
Answer: A
Explanation:
Adjourning is not a stage. The 6 stages of negotiation are; preparation, opening, discussion, pro-posal, bargaining and agreement. P.64
NEW QUESTION 33
If a party is to 'repudiate' a contract, what does this mean?
Answer: A
Explanation:
"the party indicates they no longer intend to fulfil their contractual obligations, usually in response to a breach". This is the definition of 'repudiate' given on p. 128 Before the exam check you understand the difference between repudiate, rescind and revoke. These are all ways contracts can end but are slightly different.
NEW QUESTION 34
Which of the following would be included in a contract to assign costs and responsibilities be-tween buyer and seller when products are delivered?
Answer: A
Explanation:
Incoterms assign costs and responsibilities about when products are delivered. See p. 37 for a full list of the different Incoterms. You don't need to know all Incoterms for the exam, but it's a good idea to know what they are and why they'd be put into a contract
NEW QUESTION 35
A breach of representation by party A in a contract would allow party B to do what?
Answer: D
Explanation:
A breach of representation is a major/ fundamental breach and allows the innocent party to rescind the contract and claim damages. A Breach of Representation is when you provide false information about who you are- this might have been a fundamental reason as to why the contract went ahead. If it turns out not to be true, the other party has the right to cancel the contract and claim damages. See p.126
NEW QUESTION 36
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