making of a great scrum master

Oliver 175 - 20th Question

amolfuke
Contributor
Contributor
Posts: 119
Joined: Tue May 31, 2016 9:31 pm

Oliver 175 - 20th Question

Postby amolfuke Mon Jul 18, 2016 1:41 am

In most jurisdictions, a legally required order of formal statements establishing a contract is:

o Invitation to treat, offer, PO
o Inquiry, bid, order
o Offer, acceptance
o MoU, LoI, final agreement

Can someone explain me the question ?
manishpn
Expert
Expert
Posts: 1929
Joined: Sat Jan 04, 2014 3:55 pm

Re: Oliver 175 - 20th Question

Postby manishpn Mon Jul 18, 2016 4:33 pm

amolfuke wrote:In most jurisdictions, a legally required order of formal statements establishing a contract is:

Jurisdiction is last recommended step in legal dispute between parties. The question is asking in case of legal dispute which document is considered as a valid legal argument
o Invitation to treat, offer, PO
o Inquiry, bid, order
o Offer, acceptance
o MoU, LoI, final agreement

Can someone explain me the question ?
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
amolfuke
Contributor
Contributor
Posts: 119
Joined: Tue May 31, 2016 9:31 pm

Re: Oliver 175 - 20th Question

Postby amolfuke Mon Jul 18, 2016 8:27 pm

OK.Thanks for clarification
ashima11
Posts: 16
Joined: Mon Dec 19, 2016 5:40 am

Re: Oliver 175 - 20th Question

Postby ashima11 Wed Dec 21, 2016 3:52 am

Shouldnt the answer be D then? ITs given as 3
vikram_unde
Contributor
Contributor
Posts: 185
Joined: Tue Aug 23, 2016 5:48 am

Re: Oliver 175 - 20th Question

Postby vikram_unde Fri Dec 23, 2016 1:24 pm

ashima11 wrote:Shouldnt the answer be D then? ITs given as 3


Should be Offer, acceptance. MoU, LoI are inital agreements only and will not help in legal dispute.
Housam Bassal
Contributor
Contributor
Posts: 239
Joined: Fri Nov 04, 2016 7:38 pm

Re: Oliver 175 - 20th Question

Postby Housam Bassal Fri Dec 23, 2016 4:05 pm

4.1.1.3 Agreements (P:70)
Agreements are used to define initial intentions for a project. Agreements may take the form of contracts, memorandums of understanding (MOUs), service level agreements (SLA), letter of agreements, letters of intent, verbal agreements, email, or other written agreements. Typically, a contract is used when a project is being performed for an external customer.


Option D is the correct answer.
Housam Bassal
Ecuador - Quito
LinkedIn: https://www.linkedin.com/in/housam-bassal-49984357
Reddaiah
Posts: 9
Joined: Sun Jul 17, 2016 11:42 am

Re: Oliver 175 - 20th Question

Postby Reddaiah Tue Jan 03, 2017 3:07 pm

Hi Manish, Saketh,

What's the correct answer for this ? I too tend to agree with Housam here and got confused after seeing the correct answer as C.
sarthy
Beginner
Beginner
Posts: 25
Joined: Sun Feb 22, 2015 2:44 pm

Re: Oliver 175 - 20th Question

Postby sarthy Thu Jan 05, 2017 10:09 am

Hi
Manish has already answered it as D. Yes the answer is D

Jurisdiction is last recommended step in legal dispute between parties. The question is asking in case of legal dispute which document is considered as a valid legal argument
manishpn
Expert
Expert
Posts: 1929
Joined: Sat Jan 04, 2014 3:55 pm

Re: Oliver 175 - 20th Question

Postby manishpn Thu Jan 05, 2017 12:17 pm

amolfuke wrote:In most jurisdictions, a legally required order of formal statements establishing a contract is:

o Invitation to treat, offer, PO
o Inquiry, bid, order
o Offer, acceptance
o MoU, LoI, final agreement

Can someone explain me the question ?



This is tricky one, I relooked at this question and and now am trying to dissect it

In most jurisdictions - In most courts , a legally required order - A legally required sequence of formal statements - formal documents establishing a contract - that is considered to be base for establishing a contract

if I dissect it this way question is not talking about any dispute however talks about the sequence of documents that will establish a contract - that will be offer and acceptance,
once the offer is rolled out by the buyer and seller formally accepted the offer (signing it) its considered as legally valid in court.

the question is asking sequence

MOU , LOI and FInal agreement is also a valid sequence of events however if the agreement is not accepted then its not valid , that is the only think I could conclude as to why option D is not Valid.
Having more than 10 years of experience dealing with contracts I am also confused with the play of words in this question :)
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/
VCAB
Beginner
Beginner
Posts: 45
Joined: Wed Dec 21, 2016 4:26 pm

Re: Oliver 175 - 20th Question

Postby VCAB Thu Jan 05, 2017 4:15 pm

In most jurisdictions, a legally required order of formal statements establishing a contract is:

o Invitation to treat, offer, PO
o Inquiry, bid, order
o Offer, acceptance
o MoU, LoI, final agreement

Can someone explain me the question ?

ANS: C
There are basically 4 criteria for a contract ( I believe there is one more that I can't recall off hand):
1. Offer (something of consideration should be provided)
2.. Acceptance (the offer should be accepted)
3 Something of legal value
4. Competence (parties legal to engage same)

Eliminate Answers
1. Invitation to treat (is not a term that I have come across and neither does the PMBOK 5th ed), Offer is a criteria for contracting and PO (purchase order--is simply a contract in its simple form

2. Inquiry, bid (are both procurement language used in the conduct procurement) and order--not applicable

3. Offer, acceptance---Correct

4. MOU is an agreement (but not a contract, generally internal withing organizations), lol (Laugh out loud- not applicable and final agreement ----not applicable

Return to “Oliver 175 PMP Questions”

Who is online

Users browsing this forum: No registered users and 1 guest