Contract Principles Flashcards
What are the two types of authority?
Actual and Apparent
What is the difference between “express actual authority” and “implied actual authority”?
Express Actual Authority is created by explicit language, either in writing or verbal.
Implied Actual Authority is usually defined in general terms to include authority to do what is usual, customary and necessary to accomplish the action.
When an individual is assigned a task to accomplish but the minor details are not spelled out either verbally or in writing, this is an example of ___________.
Implied Actual Authority
________ exists 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
Which authority is legally binding in Government contracting and recognized by the courts?
Actual Authority
In DoD contracting, who has the authority to enter into a legally binding contract?
Contracting Officer
T/F: Each authority is NOT delegable unless specifically stated otherwise.
False
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
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.
Mutual assent
___________ is something of value that a promisor (the offeror) receives from a promisee (the offeree) in return for his or her offer.
Consideration
What FAR reference covers Market Research?
FAR Part 10
__________ is the process used to determine if industry can support the acquisition “needs” of the Government.
Market research
Define Strategic Market
Strategic market research is conducted continuously throughout the acquisition process.
Define tactical market
actical market research is conducted at specific points during the acquisition process.
The competitive procedures available for use in fulfilling the requirement for full and open competition are …
-Sealed bids. (FAR 6.401(a))
-Competitive proposals. (FAR 6.401(b)) If sealed bids are not appropriate, contracting officers shall request competitive proposals or use the other competitive procedures.
-Combination of competitive procedures. If sealed bids are not appropriate, contracting officers may use any combination of competitive procedures (e.g., two-step sealed bidding).
-Other competitive procedures.
Per FAR 46.501, _____________ constitutes acknowledgment that the supplies or services conform with applicable contract quality and quantity requirements. Acceptance may take place before delivery, at the time of delivery, or after delivery, depending on the provisions of the terms and conditions of the contract .
acceptance
A _____________ (FAR 46.315) may be used in certain instances instead of source inspection (whether the contract calls for acceptance at source or destination) at the discretion of the contracting officer
certificate of conformance
Give some examples of excusable delays
-acts of God or of the public enemy
-acts of the Government in either its sovereign or contractual capacity
-fires
-floods
-epidemics
-quarantine restrictions
-strikes
-freight embargoes
-unusually severe weather
What are the two types of warranties?
Implied Warranties and Express Warranties
T/F: express warranties are included in all contracts
False; they are not included in contracts for commercial items
A _____________ is a contract modification that is signed by the contractor and the contracting officer.
bilateral modification
A _____________ is a contract modification that is signed only by the contracting officer.
unilateral modification
What FAR reference discusses contract modifications policy
FAR 43.102
