When a contract has been agreed on the basis of a fraudulent misrepresentation, which of the following remedies are available?

• A.Damages only
• B.Rescission only
• C.An injunction only
• D.Both damages and rescission

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MWB operates serviced offices in central London. Rock entered a contractual licence with MWB to occupy office space in Marble Arch and had accumulated licence fees in arrears. The original licence agreement contained a 'No Oral Modification' clause that said: 'All variations to this licence must be agreed, set out in writing and signed on behalf of both parties before they take effect'.
After 6 months, Rock director re-negotiated to extend payment period over phone call and MWB credit controller agreed his proposal. Is this agreement considered as an effective variation to the original licence agreement?

• A.Yes, because parties who agree to altering the original contract orally despite a 'No Oral.
• B.Modification' clause, must have intended to dispense with the clause
• C.No, because the mechanism for variation has been set out in the original contract
• D.Yes, because the credit controller had agreed with Rock director's proposal
• E.No, because Rock director assumed that the variation was effective and convinced credit controller to believe it

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The pricing arrangement in which markup is added into cost base to calculate the final price is known as...?

• A.Fixed Price approach
• B.Market based approach
• C.Price indices
• D.Cost plus pricing

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According to rule of contract formation, which of the following is a valid acceptance?

• A.The person orally agrees to pay the offered price
• B.The person states that she is able to pay the offered price
• C.The person asks for a lower price
• D.The person says that she will think about it overnight

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Which of the following are examples of conformance specification? Select TWO that apply:

• A.Outcome-focused specification
• B.Statement of work
• C.Product sample
• D.Output-focused specification
• E.Technical drawing

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