Examlex
In project procurement management, which of the following processes involve completion and settlement of each contract, including resolution of any open items?
Implied Authority
When the authority of the agent is implied from surrounding circumstances, such as the position or title given (by the principal) to the agent.
Ratify
To officially approve or confirm actions, agreements, or treaties through a formal consent, typically by voting or signing.
Warranty
A guarantee provided by a seller regarding the condition of a product and the promise of repair or replacement if necessary.
Contract
A legally enforceable agreement between two or more parties with clear terms and conditions.
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