Mutuality of obligation - Study guides, Class notes & Summaries

Certified Texas Contract Developer (CTCD) Q & A Verified 100% Correct!! Legal Elements of a Contract • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. T...

Legal Elements of a Contract - Answer- • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract - Answer- • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. TRUE/FALSE - After contract award, the bid tabul...

CERTIFIED TEXAS CONTRACT DEVELOPER (CTCD) TEST WITH CORRECT ANSWERS 100% VERIFIED GRADED A+ Legal Elements of a Contract - Correct Answer • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract - Correct Answer • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provision...

6 Elements of a Contract 1)Offer and Acceptance 2)Definiteness 3)Legal Consideration 4)Mutuality of Obligation 5)Competent Parties 6)Legal Purpose Element of a Contract: Offer and Acceptance A promise or comittment to do, or not do, a specified thing in the future. Example: provide a good or service. An acceptance is a promise to do something in response to an offer. Element of a Contract: Definiteness The material terms of an agreement that are specifically expressed. Specificity is requi...

Legal Elements of a Contract - ANSWER • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract - ANSWER • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. TRUE/FALSE - After contract award, the bid tabulat...

Certified Texas Contract Developer (CTCD) Q & A Verified 100% Correct!! Legal Elements of a Contract • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. T...

PERFORMANCE ASSESSMENT PLAN (PAP) Ensure supplier compliance to specifications is the development of PAP. Based on contract performance requirements Privity of contract deals with parties to a contract having the right to enforce it PRE-SOURCING (SPECIFICATION SCOPE STAGE) 1) Site visit to determine pre-existing conditions 2) Samples 3) Equipment Demonstrations 4) Proponents meeting DURING SOURCING (EVALUATION STAGE) 1) FORMAL PRESENTATION 2) Technical Testing 3) Work-in-progress i...

6 Elements of a Contract  1)Offer and Acceptance 2)Definiteness 3)Legal Consideration 4)Mutuality of Obligation 5)Competent Parties 6)Legal Purpose Element of a Contract: Offer and Acceptance  A promise or comittment to do, or not do, a specified thing in the future. Example: provide a good or service. An acceptance is a promise to do something in response to an offer. Element of a Contract: Definiteness  The material terms of an agreement that are specifically expressed. Spe...

PERFORMANCE ASSESSMENT PLAN (PAP) - CORRECT ANS Ensure supplier compliance to specifications is the development of PAP. Based on contract performance requirements Privity of contract - CORRECT ANS deals with parties to a contract having the right to enforce it PRE-SOURCING (SPECIFICATION SCOPE STAGE) - CORRECT ANS 1) Site visit to determine pre-existing conditions 2) Samples 3) Equipment Demonstrations 4) Proponents meeting DURING SOURCING (EVALUATION STAGE) - CORR...

Legal Elements of a Contract - ANSWER • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract - ANSWER • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. TRUE/FALSE - After contract award, the bid tabulat...