Eng_managem 9 - 1 How are liquidated damages best defined a...

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1. How are liquidated damages best defined? a. Liquidated damages are a sum fixed in advance by the parties to a contract in the event of a breach. b. Liquidated damages are a sum set by the court following a breach of contract. c. Liquidated damages are a fixed sum set at the value of the contract. d. Liquidated damages are a calculated by the courts and relate to the loss caused by the breach. 2. Which court in the English court system does not normally deal with civil cases? a. County courts. b. Crown Courts. c. High courts. d. Court of Appeal. 3. This question concerns variations to a contract. a. Because of the legally binding nature of a contract only lawyers can agree variations. b. The customer, being the owner of the contract, has the ultimate authority for variation. c. Both sides of a contract need to agree any variation. d. Once a price has been agreed and the contract signed then variations are not accepted as this would invalidate the contract. 4. Which of the following would you not expect to see in the schedules of a contract? 5. Which of the following does not constitute reasons for termination of obligations or discharge of contract? a. Where a variation has been imposed that alters the terms of the contract. b. Frustration of contract – typically, where there is a total or partial destruction of some object necessary to the performance of the contract. c. Breach of contract – if one party breaks a condition of the contract, the other party may treat the contract as discharged. d. Performing the contract – undertaking the obligations will discharge the contract completely. 6. Which of the following best defines damages under a contract? a. Damages under a contract relate to property or facilities that have been ‘damaged’ or destroyed during the course of the contract.
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b. Damages are defined as the ‘monies’ that a contractor looses as a result of imposed contract variations. c. Damages are defined as a sum of money awarded by a court as compensation for a breach of contract. Their purpose is to put the plaintiff in a position he or she would have been in if the contract had been fulfilled. d. Damages are defined as a sum of money awarded by a court as compensation for a breach of contract. Any amount can be awarded and it is at the discretion of the courts.
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