Contract answersa - Study guides, Class notes & Summaries

BUL4421 Final Gendler Exam 2024 QuestioContract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act. Contract Law - ANSWERSReflects what promises/commitments our society believes should be legally binding. Breach of contract - ANSWERSThe failure, without legal excuse, of a ...

Addenda correct answersformal changes or clarifications issued to all identified bidders by the owner or the owner's representative during the bid process Additional Work correct answersConstruction work that was not recognized at the contract award but that must be performed in order to deliver a project as planned. Agency agreement correct answersan agreement between a principal and an agent by which the agent agrees to perform certain tasks for the principal. The principal is bound b...

REG Business Law Exam Questions & Answers 2024/2025 What is an agent? - ANSWERSanyone authorized to act on behalf of another person, and who has the power to legally bind the principal to contracts, or in some cases, torts. what does an agency require? - ANSWERSan agreement -not in writing unless MY LEGS, aka land/not accomplish in one year who is required to have capacity in a principal/agent relationship? - ANSWERSthe principal what is capacity? - ANSWERSthe competency to enter ...

Representations and Warranties correct answersRepresentations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments correct answersTwo related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate fu...

Contract: correct answersA legally binding and enforceable agreement to do or not to do a specific thing Promulgated Contract: correct answersA contract that has been approved and is required to be used by license holders In Texas, what are the two entities that promulgate contracts? correct answersTREC and TAR In a real estate sale, the license holder must use the appropriate TREC-promulgated form UNLESS another contract form is required by the buyer's lender. correct answersFALSE (...

Contract - ANSWERSa promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements - ANSWERS-Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for consideration: exchange of value, including their de...

ITIL Foundation Exam Questions & Answers 2024/2025 service - ANSWERSdelivers value to customers, without ownership of specific costs and risks SACM - ANSWERSService Asset and Configuration Management SACM purpose - ANSWERSPurpose is to ensure you have accurate, meaningful and relevant info about your asset Service Asset - ANSWERSAny resource or capability that could contribute to the delivery of a service. Configuration Item - ANSWERSA service asset that needs to be managed in o...

Mycorrhizae correct answersSymbiotic organisms (aka symbionts) with plants that live on their roots, helping the plant gain nutrients Nerve net correct answersA nervous system that moves neural signals in all directions from the stimuli, found in invertebrates like hydra Malpighian tubules correct answersTubes in an insect that help with osmoregulation and excretion; they move waste into the main gut for removal. "Kidneys" of arthropods, they absorb ammonium and convert it into uric acid...

CAM Final Test 1 Questions & Answers 2024/2025 What is a legally binding agreement? - ANSWERSIt is structured by formal, legal documents that define property rights, rules and restrictions It grants rights and/or imposes liabilities and responsibilities on the community association and members It provides governance, business, and communal aspects of administering, maintaining and enhancing the property Could also be considered a "contract" What is a legally binding agreement ...

Business Law REG Exam Questions & Answers 2024/2025 Define Bilateral contract - ANSWERSA bilateral contract is a promise in exchange for a promise creating a contract. Define executory contract - ANSWERSAn executory contract is one not fully performed. What are four requirements for a *valid contract*? - ANSWERSoffer and acceptance, consideration (computer for $400), nothing to indicate either party lacks legal capacity, and in legal purpose. Define unilateral contract - ANSWERSan ...