Companies Use the Internet to Streamline Their

question 47

Multiple Choice

Companies use the Internet to streamline their:

• A)materials procurement
• B)travel bookings
• C)employees' leave
• D)cash deliveries

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Definitions:

Condition Precedent

A contractual requirement that must be fulfilled before a party's obligation or right comes into effect.

Constructive Condition

A condition presumed by law to exist in a contract, even if not explicitly mentioned, to ensure fairness and fulfill the intention of the parties.

Concurrent Condition

In contract law, these are conditions that must occur or be performed at the same time by both parties involved in a contract.

Strict Performance

The requirement that a contract be executed precisely as agreed, without any deviations or allowances.