DBIA EXAM 3 LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

DBIA EXAM 3 LATEST 2023-2024 ACTUAL EXAM 200

QUESTIONS AND CORRECT DETAILED ANSWERS

WITH RATIONALES (VERIFIED ANSWERS)

|ALREADY GRADED A+

What is an example of a contract that the Statute of Frauds mandates to

be written? - ANSWER- contracts that are impossible to complete

within one year

"Where a contract does not fix a definite price, there must be a definite

method for _____ it." - ANSWER- ascertaining

What case is this?

- NAVFAC project.

- Party's $5.2 million price used by other party in bid, but the project is

awarded to other.

- Statute of Frauds found applicable. - ANSWER- Trident V. Austin

(2003)

Contracts created by conduct that is contrary to public sector are _____.

enforceable or unenforceable? - ANSWER- unenforceable

What are 2 examples of an unenforceable contract that is contrary to

public policy? - ANSWER- - Duress

- Misrepresentation and Fraud

Which of the following terms may be found contrary to public policy?

a.) Indemnity

b.) Limitations of Liability

c.) Advanced waivers of lien rights.

d.) No damages for delay.

e.) All of the above. - ANSWER- e.) All of the above.

_____ _____: Means of protecting a party who is reliant on someone's

actions. - ANSWER- Promissory Estoppel

What are 2 common examples of Promissory Estoppel? - ANSWER- 1.

Subcontractor bids

2. Teaming relationships

What case is this?

- Party sues for lost profits ($3-4 million)

- 5th Circuit found material facts in dispute that allowed party to

maintain a promissory estoppel theory. - ANSWER- Metroplexcore V.

Parsons Transportation Group (2014)

_____ Damages: Award what was reasonably expected from the

contract. - ANSWER- Expectation

_____ _____: When expectation damages not available, award what

party would have had if contract had not existed. - ANSWERRescission Damages

_____ ______ & _____ _____: If contract's subject is unique, a court

may order that the breaching party perform its obligations under that

contract (specific performance) or stop doing something (injunction). -

ANSWER- Specific Performance & Injunctive Relief

_____ _____: Award of a reasonable sum of money (i.e., "what the

claimant deserved") - ANSWER- Quantum Meruit

Damages cannot be speculative, and must be proven to a _____ degree

of certainty. - ANSWER- reasonable

The contract may NOT impose limitations on what can be claimed.

True or False? - ANSWER- False

- Liquidated damages.

- Limitations of liability.