Question 1

Franky B's is a popular restaurant chain which is seeking a resolution to a conflict it has with its supplier of Fried Chicken. It is looking for a dispute resolution that does not involve the court but in which an expert third party will make a binding decision. Which is the most suitable dispute resolution method for Franky B's?

Options :

A : litigation

B : adjudication

C : conciliation

D : mediation

Answer: B

Question 2

Which of the following would be included in a contract to assign costs and responsibilities between buyer and seller when products are delivered?

Options :

A : Indemnity

B : Liquidated Damages

C : Liability

D : Incoterms

Answer: D

Question 3

Which of the following would constitute an offer? Select TWO:

Options :

A : a display in a shop window

B : an advert on a website

C : an auction

D : a bid on an auction

E : a price proposal that is valid for 14 days

Answer: A,D

Question 4

2021-04-01-09-13-17-26ac4e281adef4bae85e39b38d532e9c

Which of the following will you put into box 4?

Options :

A :

Payment Term

B : Time is of the Essence

C : Subcontracting

D : Specification

Answer: C

Question 5

Which of the following is not a form of ADR (Alternative Dispute Resolution)?

Options :

A : mediation

B : negotiation

C : arbitration

D : conciliation

Answer: B

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