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CIPS Updated L4M3 Exam Questions and Answers by emil

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CIPS L4M3 Exam Overview :

Exam Name: Commercial Contracting
Exam Code: L4M3 Dumps
Vendor: CIPS Certification: CIPS Level 4 Diploma in Procurement and Supply
Questions: 190 Q&A's Shared By: emil
Question 20

Cleveland Insurance (Cleveland) offers a range of insurance services. The main software used in the call centre is a customer relationship management (CRM) system. Cleveland perceived an urgent need to replace the existing CRM system to deal with the increasing number of customers and services.

Urgent Digital Ltd (Digital) is one of the bidders of Cleveland’s ITT for designing, building and managing the new CRM system. Its bid team is led by Hank Irvine, its technical director. Hank realises that winning the Cleveland contract (valued at approximately £50M) will enhance his career. During discussions with Cleveland, Hank offers certain assurances regarding timescales for the project. He has not carried out any investigations into the viability of the timescales. Hank has little idea whether the timescales can be met.

Cleveland decides that Digital’s bid meets with its requirements, especially given the assurances in timescale offered by Hank, and decides to proceed with it, subject to a formal contract. Eventually, a formal contract is signed by both parties. The initial assurances given by Hank about the timing of the project are never going to be achieved and are at best grossly exaggerated.

Cleveland brought the case to the court and sought rescission of contract with Digital. Is Cleveland’s claim appropriate in this case?

Options:

A.

Yes, because Cleveland needs to seek rescission first before claiming for damages

B.

Yes, because both parties agreed with rescission of their contract

C.

No, because the work had been carried out which could not be returned

D.

No, because the contract does not include any provision on rescission

Discussion
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Question 21

Which of the following is a true statement on express and implied terms?

Options:

A.

Express terms always take precedent over implied terms

B.

Implied terms may derive from oral negotiations

C.

Express terms must always be in writing

D.

Express terms must be prepared by the party with expert knowledge

Discussion
Question 22

Danielle buys a car from Aaron. Not long after, she receives an proposal from Brian, who is interested in buying the car but his budget is very constraint. Then, Brian decides to sign a hire purchase agreement with Danielle which lasts 4 years. Brian lives very far from Danielle, so he hires Charlie to deliver the car to his place. During the transport, Charlie has an accident and the car is written off. At the time of accident, who has the title of the car?

Options:

A.

Charlie

B.

Aaron

C.

Brian

D.

Danielle

Discussion
Question 23

A tire manufacturer entered into a contract with a distributor. In the contract, the distributor is prohibited from selling the tire under the price list. The distributor must pay $5 for each tire sold in breach. The amount of $5 is known as...?

Options:

A.

Penalty

B.

Quantum meruit

C.

Liquidated damages

D.

Caveat Emptor

Discussion
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