Classic Classic Quiz Contracts by Theladders Theladders 13 played - 13 yrs ago Quiz #1 on contract clauses. QUIZ 7 QUESTIONS medium 1 The Contract Effective Date is defined as : The date signed by VendorThe date signed by CustomerThe date the contract terms are in effect 2 Of the titles listed below, which one would not have signing authority on behalf of a Company? PresidentExecutive AssistantSenior Director of Sales 3 A Master Services Agreement is comprised of- An MSA and Order FormOnline Terms and Conditions onlySubscription Order only 4 In an agreement, the purpose of the Governing Law clause is to- Specify the venue (court)Allows for the choice of ArbitrationSpecify the jurisdiction (state law) 5 Which is one is an example of termination for convenience? 60 days prior to the renewal dateTermination at any time upon prior written noticeTermination notice only on the anniversay of the effective date 6 Why would parties want the severability clause in the contract? It allows the parties to terminate the agreement at any timeIf a court determines one part of the contract as invalid, the rest of the contract remains in validIt's allows for parties to use meditation to resolve contractual disputes 7 What is the purpose of an auto-renewal provision in a contract? Allows for the agreement to automatically rollover without having to renegotiate the contractThe responsibility of timely termination is on the customerAll of the above A mistake in this Quiz ? Contact the author Commentaires
