Types of Contracts

Додано: 25 листопада 2024
Предмет: Англійська мова, 11 клас
10 запитань
Запитання 1

What is a contract? It is ______

варіанти відповідей

an illegal agreement between two or more companies that obliges all in the contract to perform certain tasks or to refrain from specific actions

a legal agreement, written or spoken, between two or more parties that obliges all in the contract to perform certain tasks or to refrain from specific actions 

business operations that involve a myriad of relationships and transactions, each requiring specific contractual frameworks to ensure clarity and legal soundness

the linchpins of almost everything we interact with that provide safety, security and the ability to fall back on the agreement if an issue arises or a change is needed

Запитання 2

All legally binding contracts must contain these six elements to be enforceable by the law. They are: offer, consideration, acceptance, awareness and (choose two more).



варіанти відповідей

capacity

illegality

legality

proposal

Запитання 3

This is ________________ .

Purpose: Governs the sale of goods or services.

Key elements: Description of goods/services, price, delivery terms.

Example scenario: A retailer orders a bulk shipment of clothing from a manufacturer.


варіанти відповідей

Service agreement

Lease agreement

Sales contract

Franchise agreement

Запитання 4

This is ______________ .

Purpose: Specifies the terms of an employee’s employment with a company.

Key elements: Job responsibilities, salary, benefits, confidentiality clauses.

Example scenario: A tech company hires a software developer.

варіанти відповідей

Lease agreement

Non-disclosure agreement (NDA)

Partnership agreement

Employment contract

Запитання 5

This is _______________ .

Purpose: Allows one party to use another’s intellectual property.

Key elements: Scope of use, royalties, limitations.

Example scenario: A software company licenses its product to a corporate client.

варіанти відповідей

Licensing agreement

Consulting agreement

Franchise agreement

Lease agreement

Запитання 6

This is _______________ .

Purpose: Outlines the terms of a partnership between two or more entities.

Key elements: Profit sharing, management duties, dispute resolution.

Example scenario: Two entrepreneurs form a partnership to start a new café.

варіанти відповідей

Lease agreement

Partnership agreement

Service agreement

Consulting agreement

Запитання 7

This is _______________ .

Purpose: To protect against losses or damages.

Key elements: Indemnification terms, liability limits.

Example scenario: A construction firm indemnifies against damages during work.

варіанти відповідей

Licensing agreement

Consulting agreement

Indemnity agreement

Joint venture agreement

Запитання 8

This is _____________ .

Purpose: Outlines terms for dissolving a contract.

Key elements: Termination conditions, notice requirements, final settlements.

Example scenario: A company terminates a distribution agreement with a supplier.

варіанти відповідей

Confidentiality agreement

Termination agreement

Subscription agreement

Shareholder agreement

Запитання 9

This is __________________ .

Purpose: To keep shared information private.

Key elements: Definition of confidential information, obligations, exclusions.

Example scenario: Employees sign to protect sensitive company data.


варіанти відповідей

Performance contract

Termination agreement

Subscription agreement

Confidentiality agreement

Запитання 10

Here are some factors you can consider while choosing the right contract type for yourself: price and cost evaluation, complexity and type of requirements, urgency of requirements, _______, _______ (choose two more).


варіанти відповідей

contractor analysis

fixed prices

own achievements and ambitions

project duration

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