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L5M3 Exam Dumps : Managing Contractual Risk

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Managing Contractual Risk Questions and Answers

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Question 1

Which of the following will you put into box 1?

Options:

A.

compete

B.

avoid

C.

compromise

D.

collaborate

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Question 2

Logan Gin Distillery is creating a contract for one of its new suppliers. It is a complicated item that they are ordering and if things go wrong, it would have an extremely negative impact on production, and therefore on revenue. However it is impossible to say what the cost of this would be if things were to go wrong. What type of clause should be included in the contract?

Options:

A.

liquidated damages

B.

unliquidated damages

C.

penalty clause

D.

service credit

Question 3

Which of these statements about mediation is true? Select TWO

Options:

A.

mediation is flexible

B.

mediation produces legal precedents

C.

mediation can be used as a stalling tactic

D.

mediation is expensive

E.

mediation involves a third party who makes a judgement on the issue

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