Federal Contracting Contract Formation

Question 1

What is a legally binding contract in federal acquisition?

Accepted Answer

A written agreement with offer and acceptance

Answer

A draft proposal

Answer

An oral promise only

Answer

Any email exchange

Question 2

Which regulation provides the framework for contract formation in federal procurement?

Accepted Answer

FAR Part 15

Answer

FAR Part 5

Answer

DFARS Part 219

Answer

OMB Circular A-123

Question 3

What is a key feature of a bilateral contract?

Accepted Answer

Both parties have obligations

Answer

Only the contractor is obligated

Answer

Only applies to services

Answer

Used only for IDIQ contracts

Question 4

When is a contract considered formed under federal law?

Accepted Answer

When offer and acceptance are confirmed

Answer

When the contractor sends a proposal

Answer

Once funds are allocated

Answer

At the end of performance

Question 5

What is the role of the Contracting Officer in contract formation?

Accepted Answer

Execute contracts legally

Answer

Review contractor proposals

Answer

Oversee project logistics

Answer

Approve funding requests

Question 6

What distinguishes a unilateral contract from a bilateral contract?

Accepted Answer

Only one party is obligated initially

Answer

Both parties perform duties

Answer

Used in sealed bidding

Answer

Never used in federal contracting