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CIPS Exam L4M3 Topic 6 Question 40 Discussion
Actual exam question for
CIPS's
L4M3 exam
Question #: 40
Topic #: 6
[All L4M3 Questions]
Topic #: 6
The model form contract invented by Institute of Civil Engineers is...?
Suggested Answer:
D
When parties do not negotiate face-to-face, a key Question: becomes when
things like acceptances, rejections and revocations take effect. The general rule is that acceptances are effective on dispatch (when they are mailed). Everything else becomes effective when the offeror actually receives them. This idea is codified by the ''mailbox rule'' which states that acceptance is effective on dispatch, even before the offeror has received it. (The one minor exception to this rule involves option contracts for which acceptances are not effective until they are received by the offeror.)
- The Mailbox Rule
- CIPS study guide page 34
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