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Which of the following is not a way in which a contract can end?
Litigation is the correct answer. This is not a way in which a contract can end- it is a conflict resolution method. The three ways in which a contract can end are; performance, agreement and breach. See p. 42 for more details on how contracts end
Which of the following will you put into box 1?
The correct answers are as follows:
Subcontracting is the correct answer as they're using another company to fulfil the contract
An exchange of written documents between a buyer and supplier, each detailing their own Terms and Conditions is known as the Battle of the Forms. Who generally wins the Battle?
The Battle of The forms is won by the party who sends the last form. This is referred to in the study guide as 'the last shot wins'
Kelly and Chloe have a contract in which Kelly provides MRO supplies to Chloe's manufac-turing business. Kelly has committed a fundamental breach but Chloe has not suffered any loss. Chloe has chosen to terminate the contract. Can she claim damages?
3 is the correct answer. Damages cannot be claimed is there has not been any loss. This is stated on p. 122
If a party is to 'repudiate' a contract, what does this mean?
'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.
