CON 3900 Contract Principles questions
well answered graded A+
_______ __________ have authority to enter into, administer, or terminate contracts and make
related determinations and findings. Contracting officers may bind the Government only to the
extent of the authority delegated to them.
Contracting officers
Name the two types of authority:
Actual Authority and Apparent Authority
_____ ________ Authority is created by explicit language, either in writing or verbal. It should
be noted that the spoken word is generally as binding as the written word; however it is
sometimes more difficult to prove.
Express Actual Authority
_______ _________ Authority is usually defined in general terms to include authority to do
what is usual, customary and necessary to accomplish the action.
Implied Actual Authority
When someone reasonably believes an individual has the authority to act on behalf of the
Government, based on his or her conduct, even though that individual has no actual authority
to bind the Government.
Apparent Authority
FAR Conventions listed at FAR 1.108(b) provides guidance for interpreting the FAR and states
that each authority is delegable unless specifically stated otherwise
Delegation of authority
Which authority is legally binding in Government contracting and recognized by the courts?
Actual Authority
FAR 2.101 defines __________ as a mutually binding legal relationship obligating the seller to
furnish the supplies or services (including construction) and the buyer to pay for them.
Contract
, Name the four essential elements of a contract.
Capacity
Mutual assent
Consideration
Lawful purpose
_______ refers to the legal competence of a person to enter a valid contract. To be legally
bound to a contract, a party must have the capacity to understand and appreciate the terms of
the contract.
Capacity
_______ _________ means that parties involved in a contract must come to an agreement
about the details of the transaction and each party either makes a promise or begins or renders
performance and is also known as a meeting of the minds.
Mutual Assent
__________ is something of value that a promisor (the offeror) receives from a promisee (the
offeree) in return for his or her offer. It is the primary reason a party would seek to enter a
contract.
Consideration
A contract is unenforceable if any term of the agreement is contrary to public policy. A
contract cannot be enforced if any term of the agreement is against the law or if the
enforcement of any term of the agreement would harm the state or its citizens. What essential
element of the contract is this?
Lawful Purpose
_______ ________ is the process used to determine if industry can support the acquisition
"needs" of the Government. It is a continuous process for gathering and analyzing information
about products and services that are available in marketplace.
Market Research
_______ _______ _________ is conducted continuously throughout the acquisition process. It
may even take place before a known requirement exists and continue after it ends. Strategic
market research enables acquisition, engineering, project management and other personnel to
stay informed about overall market developments, trends and capabilities.
Strategic Market Research
well answered graded A+
_______ __________ have authority to enter into, administer, or terminate contracts and make
related determinations and findings. Contracting officers may bind the Government only to the
extent of the authority delegated to them.
Contracting officers
Name the two types of authority:
Actual Authority and Apparent Authority
_____ ________ Authority is created by explicit language, either in writing or verbal. It should
be noted that the spoken word is generally as binding as the written word; however it is
sometimes more difficult to prove.
Express Actual Authority
_______ _________ Authority is usually defined in general terms to include authority to do
what is usual, customary and necessary to accomplish the action.
Implied Actual Authority
When someone reasonably believes an individual has the authority to act on behalf of the
Government, based on his or her conduct, even though that individual has no actual authority
to bind the Government.
Apparent Authority
FAR Conventions listed at FAR 1.108(b) provides guidance for interpreting the FAR and states
that each authority is delegable unless specifically stated otherwise
Delegation of authority
Which authority is legally binding in Government contracting and recognized by the courts?
Actual Authority
FAR 2.101 defines __________ as a mutually binding legal relationship obligating the seller to
furnish the supplies or services (including construction) and the buyer to pay for them.
Contract
, Name the four essential elements of a contract.
Capacity
Mutual assent
Consideration
Lawful purpose
_______ refers to the legal competence of a person to enter a valid contract. To be legally
bound to a contract, a party must have the capacity to understand and appreciate the terms of
the contract.
Capacity
_______ _________ means that parties involved in a contract must come to an agreement
about the details of the transaction and each party either makes a promise or begins or renders
performance and is also known as a meeting of the minds.
Mutual Assent
__________ is something of value that a promisor (the offeror) receives from a promisee (the
offeree) in return for his or her offer. It is the primary reason a party would seek to enter a
contract.
Consideration
A contract is unenforceable if any term of the agreement is contrary to public policy. A
contract cannot be enforced if any term of the agreement is against the law or if the
enforcement of any term of the agreement would harm the state or its citizens. What essential
element of the contract is this?
Lawful Purpose
_______ ________ is the process used to determine if industry can support the acquisition
"needs" of the Government. It is a continuous process for gathering and analyzing information
about products and services that are available in marketplace.
Market Research
_______ _______ _________ is conducted continuously throughout the acquisition process. It
may even take place before a known requirement exists and continue after it ends. Strategic
market research enables acquisition, engineering, project management and other personnel to
stay informed about overall market developments, trends and capabilities.
Strategic Market Research
