L5M3 Exam Dumps - Managing Contractual Risk

Explanation

Crystalised means ' a dispute has occurred which qualifies for resolution by adjudication'. This is a direct quote from p. 144

Explanation

Adjudication and Litigation (and Arbitration too) all provide certainty of a resolution. The other methods don’t. There's a really useful table with this information on p.87 of the study guide.

Explanation

The correct answers are 1, 4 and 5. Negotiation does NOT involve a third party and the outcome is private / confidential. See p.63 for more information on negotiation

Explanation

The correct answers are as follows:

This is a warranty as it is a minor term. If the invoices aren't processed in 30 days this isn't a major breach- the supplier has said they'd be okay with it.

Explanation

1+3 are correct. Specific Performance tend to go through the courts so this is a lengthy and costly process. Because it's mandated by the courts it means that if the offending party doesn't comply, this is a criminal offence and they can be arrested. Option 2 is incorrect as it is the opposite of option 1. Option 4 is incorrect because there is no need for the innocent party to mitigate any losses. See p. 132 for more information on Specific Performance