Qasp Exam 6 Questions with complete solution 2023

Qasp Exam 6 Questions with complete solution 2023 6 essential elements of a contract: - correct answer 1. Mutual Assent - offer and acceptance; meeting of the minds 2. Consideration - quid pro quo 3. Capacity - mentally capable and adult 4. Lawful Purpose - cannot be illegal 5. Certainty of Terms - unambiguous 6. Form Provided by Law Claims are resolved at the _________ by the ________. - correct answer lowest level; KO CLIN - correct answer Contract Line Item Number Established requirement to use "competitive procedures" in acquiring supplies/services; An act that provides for full and open competition. - correct answer Competition in Contracting Act (CICA) Terms that MUST be clear and include the following: 1. Price 2. Delivery schedule 3. Quantity 4. PWS/SOW - correct answer Certainty of Terms A. Some forms are provided by law or statute B. Contracts are written, oral, or implied - correct answer Form Provided by Law Each party receives something of value and gives something of value. - correct answer Consideration In order to be legally bound to a contract, a party must have the capacity to understand and appreciate the terms of the contract - correct answer Capacity A KO has _________ authority. - correct answer Express An agreement that is not binding solely because the Government representative who made it lacked the authority to enter into that agreement on behalf of the Government - correct answer Unauthorized commitment