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CIPS Commercial Contracting Sample Questions (Q108-Q113):

NEW QUESTION # 108
ABC Ltd is a UK based company. It plans to enter into a contract with XYZ Ltd which is based in Singapore. Which of the following are the mandatory elements for the contract between ABC Ltd and XYZ Ltd to be legally binding? Select THREE that apply.

A. There must be an offer and an acceptance
B. There must be an invitation to treat
C. The two parties must have intention to be bound
D. The invitation to tender must be sent by the agreed deadline
E. All parties must have capacity to contract
F. An amount of money must be paid upfront

Answer: A,C

Explanation:
The formation of the contract is where the contractual journey begins; if no contract is formed, neither of the parties can be under any obligations. Therefore, it is very important to have an understanding of each part of a contract's formation.
In order for a legally binding agreement to be formed, there are four basic requirements to be met:
2.1 Offer
2.2 Acceptance
2.3 Certainty & Intention to Create Legal Relations
2.4 Consideration & Promissory Estoppel
Reference:
- CIPS study guide page 28-42
- Formation of the contract
LO 1, AC 1.2

NEW QUESTION # 109
Bethy sees a coat on shop window with a $100 price tag. She comes and asks the shop owner to buy it. The owner states that the price has not been updated and the current price for the coat is $120. Bethy says the owner should honour the quoted price on window shop. Is Bethy correct?

A. No, the owner is revoking his initial offer to sell at $100 and he is proposing new offer to Bethy
B. No, the display on shop window is just an invitation to treat and the owner may change the price at his will
C. Yes, the owner has made an offer by showing his product on the shop window and he must honour that offer
D. Yes, $120 for a coat is extremely unreasonable and the owner's later offer therefore void

Answer: B

Explanation:
Based on two famous precedents, Fisher v. Bell (1961) and Pharmaceutical Society of Great Britain v. Boots Cash Chemists (1953), the display on shop window is considered as an invitation to treat. The shop owner can change the price when his customer asks to buy.
Reference: CIPS study guide page 29
LO 1, AC 1.2

NEW QUESTION # 110
While it is recognised that longer-term contracts have the potential to drive significant benefits for the organisation, a number of situations are more suited to making one-off purchases. Which of the below situations is likely to be more suited to a one-off purchase?

A. A requirement for the maintenance of buildings
B. The purchase of compatible IT infrastructure equipment
C. The purchase of internal and external audit services
D. The ordering of equipment for a special project

Answer: D

Explanation:
One-off purchases are ideal for unique, non-recurring needs such as equipment for a special project. These purchases are typically not repeated, do not require long-term supplier relationships, and are handled separately from strategic or ongoing procurement activities.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.1.2 - Types of procurement arrangements.

NEW QUESTION # 111
Curnoe Ltd supplied tyres to Garage Ltd. Garage Ltd agreed in the contract that for any specified breaches of contract, it would pay Curnoe Ltd £5 per tyre sold in breach. It subsequently sold tyres at below the listed price, which was one of the breaches mentioned in the contract. What is the £5 per tyre provision an example of?

A. Unliquidated damages
B. Liquidated damages
C. Exclusion clause
D. Quantum meruit

Answer: B

Explanation:
Liquidated damages are a pre-agreed amount stated in the contract, payable upon a specific breach. These clauses are enforceable if the amount is a genuine pre-estimate of loss and not punitive. In this case, the £5 per tyre is a typical liquidated damages clause as it quantifies the penalty for non-compliance.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.2.1 - Liquidated damages, indemnities, and breach clauses.

NEW QUESTION # 112
Since services are intangible, so KPIs for services must be qualitative in all circumstances. Is this statement correct?

A. No, some KPIs for services are measurable by means of outcome, time and space performed
B. Yes, quantitative KPIs are limited to timeliness of supply of goods, defective rates and in-full quantities, which are applied to monitor supplier of physical goods
C. No, KPIs for services must always be quantitative so that they can be measured easily
D. Yes, the only measure mattered to supply of services is end-users' satisfaction

Answer: A

Explanation:
KPIs are used to monitor supplier's performance. They can be qualitative or quantitative. Of course, service providers can be monitored by quantitative KPIs regarding the outcome achieved (such as uptime in IT contracts), timeliness of deliveries (such as in construction contracts)...
Reference:
LO 2, AC 2.2

NEW QUESTION # 113
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