A quasi contract:   Question 3 options:   A)  is a fictional contract.   B)  may be considered an obligation imposed by law where there has been no express agreement.   C)  is based upon equitable principles.   D)  None of the selections are true.   E)  All of the selections are true.

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1. The parties to a negotiation can discuss many issues besides price. Select five nonprice issues over which a buyer and seller can reach agreement, and explain why each issue might be important to the buyer or seller.  2. Develop a profile of a skilled or effective negotiator. 3. Contrast a win-win negotiator with a win-lose negotiator. 4. What information should a buyer gather about a supplier before entering into a negotiation? 5. What are likely to be the most important sources of power in a buyer-seller negotiation? 6. Why are concessions important during a sourcing negotiation? How do the parties to a negotiation demonstrate their willingness to compromise? 7. What are some examples of price indices that might be used to track commodity prices such as steel or copper, and how should they be included in the schedule to minimize risk to both parties? 8. What are the risks to buyers associated with each of the different types of contracts (fixed- price, incentive, and cost-based…

Question 4 a) With reference to contract law, identify and explain the elements that need to be present to form a valid contract? b) Under what circumstances can an offer come to an end? Discuss using case law.

Why is the performance of a pre-existing contractual obligation by the offeree not consideration for an offeror's promise? Give an example.