Oliver 175 - 20th Question

[amolfuke]

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]

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 ?

[amolfuke]

OK.Thanks for clarification

[ashima11]

Shouldnt the answer be D then? ITs given as 3

[vikram_unde]

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]

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.

[Reddaiah]

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]

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]

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

[VCAB]

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