Contract Vocabulary
Contract Law with Chris and Arleane
Kinder Morgan Core Principles
Regional Savvy
Contract Template Haiku
100
A term used for unforeseeable circumstances that prevent someone from fulfilling a contractual obligation.
What is Force Majeure?
100
Chris and Arleane are at the local watering hole when Rickard expresses interest in buying her favorite camo coozie. Surprisingly Jenn is interested in selling it. What basic contract element now exists?
What is consideration?
100
Larry is reviewing invoices and notices a billing error on a Linder invoice. He brings the error to Linder's attention and gets it corrected. Larry's attention to detail is an example of what Core Principle?
What is Quality Focus?
100
This region just became part of the Mid-West yet again.
What is the Upper Rivers Region
100
All-Encompassing, Not used for specific work, Assign your job type
What is a GSA
200
Compensatory, Liquidated and Punitive are types of this that are available in the event of a breach of contract.
What is Damages?
200
Arleane tells Chris that he can buy the camo coozie for $50. Arleane has now made an _____?
What is offer?
200
Despite John Taylor's normally dapper attire he always wears his uniform and required PPE when he is out in the field. What Core Principle is John following by doing so?
What is Safety Will Not Be Compromised?
200
This region consists of Memphis TN.
What is Middle Rivers Region
200
Small scale GSA, Fewer terms and conditions, Excess insurance?
What is a Low Risk Agreement
300
A document that is presented as supporting data to the principal document.
What is an Exhibit?
300
Chris was just promoted to a Vice-President so he accepts the over-priced offer from his friend Arleane. Being a savvy Manager she decides to draft up an agreement for the purchase making this a _______ contract.
What is formal?
300
Even though Four Seasons Trucking is believed to be a sole source contractor Kristine continues to search for competition. What Core Principle is she demonstrating?
What is Customer Service and Fiscal Responsibility?
300
This region has the largest coal facility on the East Coast
What is Mid-Atlantic Region.
300
Covers logistics, Necessary to move products, Unique in nature
What is a Transportation Agreement
400
A provision in a contract which states that if parts of the contract are held to be illegal or otherwise unenforceable then the remainder of the contract should apply.
What is Severability?
400
Arleane decides she really wants to keep her favorite coozie and drafts the contract for the sale of her bright pink coozie instead. She intentionally does not inform Chris of this change in order to still get the money. Arleane has just committed what type of misrepresentation?
What is fraud?
400
One of Rickard's conveyor parts supplier has offered him a lifetime supply of Fat Tire and a paid weekend to the Augusta National Golf Course in exchange for all of his business. He declines the offer because he is promoting what Core Principal?
What is Ethics and Integrity?
400
This region is home to the Chester liquids facility
What is Southeast Region
400
For haz or non-haz, Approved for trash removal, Apt for collection
What is a Waste Disposal Agreement
500
A term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed but before delivery has occurred?
What is Risk of Loss?
500
Chris reviews the contract and finds where Arleane has attempted to deceive him. Chris refuses to sign the contract but Arleane now becomes angry. She threatens him to sign the contract with a broken martini glass. Chris signs the contract in fear of his life but the contract is not valid because he signed it under this condition?
What is duress?
500
Jenn notices a sheen in the channel while on a bid walk. Instead of turning a blind eye to it, she informs the terminal manager immediately. Jenn has just illustrated what Core Principle?
What is Environmentally Compliant and Responsible Operator?
500
This region only has liquid facilities which includes Philadelphia
What is Northeast Region.
500
Not for KM work, Grants access to property, Insurance needed
What is Facility Access Agreement
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