A Letter of Intent (LOI), also known as a Memorandum of Understanding (MOU), constitutes legally binding contractual terms in a commercial contract.
Is this statement true?

• A.No. Because a letter of intent is used for contract management part only
• B.Yes. Because a letter of intent is a legally binding contractual term and a condition of contract
• C.No, because a letter of intent is document used during negotiation but not a term of contract always
• D.Yes. Because a letter of intent is used for every contract as a contractual term

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Sandra, CEO of a manufacturing firm, is introducing an ESG Policy. Employees may resist this. What is the most likely reason?

• A.ESG policies could signify reduced profits for the company
• B.This may signify changes in the way the business operates
• C.Lower stakeholder returns
• D.Negative publicity

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Which of the following is the correct order of the Deming Cycle?

• A.Plan, do, act, check
• B.Check, plan, do, act
• C.Plan, do, check, act
• D.Act, plan, check, do

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ABC Construction is in a contract with DEF Developers to deliver 40 houses. The contract includes a "Payment is of the Essence" clause. DEF fails to pay for completed work. ABC stops work. Are they allowed to do this?

• A.No - the contract has not been completed, so ABC must continue working
• B.No - as long as payment is made eventually, ABC must keep working
• C.Yes - ABC have the right to stop work as non-payment is a breach of contract
• D.Yes - it is a legal requirement to pay construction firms regularly

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Creating value responsibly for shareholders would sit under which aspect of the sustainability triple bottom line?

• A.Legal
• B.Social
• C.Environmental
• D.Economic

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