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CCCM EXAM QUESTION AND ANSWERS 2024
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CCCM EXAM QUESTION AND ANSWERS 2024
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CCCM EXAM QUESTION AND ANSWERS2024
CCCM - correct answers✅Certified Commercial
Contracts Manager
Bilateral Contract - correct answers✅Two parties,
purchase contract
Unilateral Contract - correct answers✅1st party
promise, 2nd party actual performance
Unilateral Contract when is it binding - correct
answers✅When 2nd party performs
Express Contract - correct answers✅Oral or written,
manifested in words
Implied Contract - correct answers✅Inferred from
conduct alone
Aleatory Contract - correct answers✅performance by
one party is contingent on occurrence of uncertain future
event.
Aleatory example - correct answers✅Insurance
contract
,CCCM EXAM QUESTION AND ANSWERS
2024
Implied-in-law - correct answers✅Quasi Contract - a
contractual obligation imposed by the law to prevent
unjust enrichment
Quasi Contract - correct answers✅a contractual
obligation imposed by the law to prevent unjust
enrichment
Adhesion Contract - correct answers✅One side highly
restrictive - court may not enforce
Not truly voluntary or possibly coerced - correct
answers✅Adhesion Contract
Divisible Contract - correct answers✅Severable (must
have 2 or more distinct components)
Severable Contract - give another name - correct
answers✅Divisible Contract
Installment Contract - correct answers✅Obligations are
in increments over defined time.
, CCCM EXAM QUESTION AND ANSWERS
2024
UCC requires separate shipments to be separately
accepted in which kind of contract? - correct
answers✅Installment Contract
UCC views each delivery as an independent contract in
which kind of contract - correct answers✅Installment
Contract
Tangible goods - correct answers✅Chattels,
merchandise, personal property, commodities provided
they are legal and offered for sale
Tangible goods must have these components - correct
answers✅legal and offered for sale
Moveable personal property v commodities - correct
answers✅Moveable personal property is Chattels.
Commodities can be chattels, but could also have
'valuable interest' in gold, livestock that are sold in
commercial markets
Chattels or commodities - which can have valuable
interest? - correct answers✅Commodities only
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