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Public Purchasing 2 > Midterm > Flashcards

Midterm Flashcards

0
Q

What is the DCA rule inciting NJSA40A:11-1 et seq?

A

NJAC 5:34:1 et seq

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1
Q

The UCC statute in New Jersey is?

A

NJSA 12-1

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2
Q

Name 2 factors that drive the market place?

A
  1. Trends

2. Functioning of society as a whole.

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3
Q

Name the recent developments in New Jersey bidding and procurement?

A
  • use of standard labor rates
  • use of Chilton as a resource for auto repair rates
  • “Jobbers” list as a resource for benchmark % discount for auto parts
  • use of reverse auctions - power procuremen
  • On-line bid service
  • disposal of public property through public aucion (LFN - Govdeals)
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4
Q

Public Works Contractor Registration & Certified Payroll changes as of July 2014:

A
  1. new threshold $15,444 (aggregate) for municipalities and 2,000 for all other units.
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5
Q

The Uniform Commercial code pertains to:

A 
General provisions
Sales
Leases
Bank Deposits
Fund Transfers;  Letters of credit;  bulk transfers;   investment  securities
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6
Q

A purchase order is

A

an offer to purchase that becomes a contract when accepted by the seller.

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7
Q

What are some changes and updates in various laws & new mechanisms included in Chapter 440 of P.L. 1999?

A
  • creation of QPA
  • creation of competitive contracting
  • changed schedule for changing bid threshold from every other year to every five years created a two tier threshold (higher for units employing a QPA
  • formalizing a quotation threshold of above and below 15% units threshold as a range for certain procurement
  • LFS’s began 1992
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8
Q

The purpose & use of the UCC - give three:

A

a. simplify government commercial transactions
b. permit continued expansion of transactions
c. make uniform the law amongst various jurisdictions

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9
Q

Offers to buy or sell must be held open for a reasonable period, not to exceed __________

A

3 months

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10
Q

LFN 2012-10

A

Using National Cooperative Contracts

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11
Q

The single most challenging sub-field of public procurement is …

A

Public works construction

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12
Q

The 5 R’s of Purchasin

A 
right quantity
right quality
right time
right source
right price
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13
Q

How do those who manage the local procurement process keep abreast of changes in law and practice?

A

Local Finance Notices (began in 1992, issued from Local Government Services)

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14
Q

The Uniform Commercial Code governs COMMERCIAL TRANSACTIONS, such as…

A

sale of goods, commercial paper, bank deposits & collections, letters of credit, bulk transfers, bills of lading, investment securities and secured transactions

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15
Q

State DOT uses two envelope system. What does it do?

A

qualifications first, then price

16
Q

A contract is effective when…

A

the vendor ships the material or performs the service

17
Q

When a selling price is in excess of $500, the contract must be in writing. If EITHER party confirms it in writing, the contract binds both parties unless an objection is raised by one of the parties within…

A

10 days

18
Q

Name the legal action by which a person attempts to recover goods wrongfully taken.

A

Replevin

19
Q

What are the 3 forms of remedies for noncompliance of a contract?

A
  • dollar damages (nominal or liquidated)
  • specific performance
  • recssion
20
Q

Dollar Damages can be ____________ or ___________ . What’s the difference.

A

Nominal - $1. to establish the fact that a contractural breach occurred.
Liquidated - reimbursement of monetary loss sustained by either party.

21
Q

One remedy for non-performance of a contract is “specific performance.” What is that?

A

A court order to complete the contract.

22
Q

Name of the court action where both parties return to the position they held before the contract.

A

Rescission

23
Q

2 Types of Warrantees?

A

Implied and Express

24
Q

What’s Implied Warranty?

A

The obligation of the vendor that the goods will correspond with the description and they will fit the purpose. Any warranty regarding the quality and fitness under normal usage or trade.

25
Q

T/F When an honest mistake is made by one party, generally it will not void a contract.

A

TRUE

26
Q

T/F A purchase order is a contract when accepted by the seller.

A

TRUE

27
Q

Who generally prevails when there are conflicting forms and terms (battle of the forms)?

A

The terms of the UCC prevail

28
Q

Express Warranties made by a vendor may include but are not limited to …

A
  • a products performance
  • capacity
  • unique feature
29
Q

If non-confirming goods are sent with a note of accommodation it is considered :

A

a counter offer

30
Q

Perfect Tender, the buyer can:

A

Accept all goods
Reject all goods
accept conforming goods and reject the rest

Public Purchasing 2 (1 decks)

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