CON 3900 - Week 1 Questions
There are two types of authority:
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Actual Authority and Apparent Authority.
Actual authority can be either
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Express Actual Authority or Implied Actual Authority.
Express Actual Authority
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is created by explicit language, either in writing or verbal. It should be noted that the spoken word is generally as binding as the written word; however it is sometimes more difficult to prove.
Implied Actual Authority
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is usually defined in general terms to include authority to do what is usual, customary and necessary to accomplish the action. Implied actual authority differs from express actual authority in that no express agreement is executed
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Apparent authority exists when
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someone reasonably believes an individual has the authority to act on behalf of the Government, based on his or her conduct, even though that individual has no actual authority to bind the Government
Delegation of authority
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FAR 1.108(b) each authority is delegable unless specifically stated otherwise (FAR 1.108(b)).
There are four essential elements of a contract
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They are: Capacity, Mutual assent, Consideration, and Lawful purpose
Capacity
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the legal competence of a person to enter a valid contract. To be legally bound to a contract, a party must have the capacity to understand and appreciate the terms of the contract.
Mutual Assent, also known as a meeting of the minds.
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Mutual assent means that parties involved in a contract must come to an agreement about the details of the transaction and each party either makes a promise or begins or renders performance. 2 / 4
Consideration
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is the next essential element in a contract. Consideration is something of value that a promisor (the offeror) receives from a promisee (the offeree) in return for his or her offer.
Lawful Purpose.
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A contract is unenforceable if any term of the agreement is contrary to public policy.
Market research
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means collecting and analyzing information about capabilities within the market to satisfy agency needs
Market research
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is the process used to determine if industry can support the acquisition "needs" of the Government.
Market Research
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is a continuous process for gathering and analyzing information about products and services that are available in marketplace.
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market research is required for
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all Federal Government contract requirements that exceed the Simplified Purchase Threshold (SAT) and for certain requirements below the SAT when adequate information is not available and the circumstances justify its costs
Acquisitions begin with
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a description of the Government's needs stated in terms sufficient to allow conduct of market research
market research
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is conducted to determine if commercial products/services or non- developmental items are available to meet the Government's needs or could be modified to meet the Government's needs
Strategic market research
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is conducted continuously throughout the acquisition process. It may even take place before a known requirement exists and continue after it ends.Strategic market research enables acquisition, engineering, project management and other personnel to stay informed about overall market developments, trends and capabilities. An example of strategic research is attending a trade show for a specific industry.
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