Which authority is legally binding in Government contracting and recognized by the courts? -
ANSWER Actual Authority
In DoD contracting, who has the authority to enter into a legally binding contract? -
ANSWER Contracting Officer
Each authority is NOT delegable unless specifically stated otherwise - ANSWER False
Which of the following are essential elements of a contract (select all that apply)? -
ANSWER Capacity, Mutual Asscent, and Lawful Purpose
A contract is defined as a mutually binding legal relationship obligating the seller to furnish
the supplies or services (including construction) and the buyer to pay for them. -
ANSWER True
Capacity is when each party either makes a promise or begins to render performance. -
ANSWER False
Market research can be__________ - ANSWER Strategic and Tactical
The extent of market research will vary, depending on such factors as urgency, estimated
dollar value, complexity, and past experience. - ANSWER True
1
ANSWER Actual Authority
In DoD contracting, who has the authority to enter into a legally binding contract? -
ANSWER Contracting Officer
Each authority is NOT delegable unless specifically stated otherwise - ANSWER False
Which of the following are essential elements of a contract (select all that apply)? -
ANSWER Capacity, Mutual Asscent, and Lawful Purpose
A contract is defined as a mutually binding legal relationship obligating the seller to furnish
the supplies or services (including construction) and the buyer to pay for them. -
ANSWER True
Capacity is when each party either makes a promise or begins to render performance. -
ANSWER False
Market research can be__________ - ANSWER Strategic and Tactical
The extent of market research will vary, depending on such factors as urgency, estimated
dollar value, complexity, and past experience. - ANSWER True
1
