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A failure to perform a provision of a contract which does not affect the end performance of the contract is known as what?
This is a minor breach. This is the definition as given in the study guide on p. 48
Which of the following will you put into box 8?
The correct answers are as follows:
This is arbitration as it involves a panel.
Which of the following is usually the default method for resolving disputes?
Negotiation is usually the default method for resolving disputes. This is a direct quote from p.63
Which of the following statements about penalty clauses is not true?
2 - penalty clauses are not illegal. However they may be judged excessive in a court of law and thrown out. Most contracts will instead opt for liquidated damages rather than a penalty clause. See p.90
Which of the following will you put into box 1?
The correct answers are as follows:
The answer is compromise as they're seeking a solution that will satisy everyone.