(TCO H) What is the maximum value of a verbal contract?
Probably not, but it depends on your jurisdiction. In general, oral contracts are enforceable, but there are a number of exceptions. Under Article 2 of the Uniform Commercial Code, any contract for the sale of goods in excess of $500 is not enforceable unless there is a writing signed by the party to be charged. The Uniform Commercial Code applies in the United States; it is a state law, but has been adopted by all 50 states. (A proposed amendment to the Uniform Commercial Code would raise the $500 figure to $5,000, but it has not yet been adopted in most jurisdictions.) The contract you are describing appears to be a contract for the sale of goods, so a writing is required. From your facts, I cannot tell whether the contract is for more than $5,000. If the agreement is for $57.40 per year for 5 years, then it is for less than $500 ($57.40 x 5 = $287); if it is for $57.40 per month for 5 years, then it is for more than $500 ($57.40 x 60 = $3,444).
There is also another rule that may be applicable here. In most jurisdictions (although not under the Uniform Commercial Code), a contract lasting more than one year must be memorialized in a writing signed by the party to be charged. That may apply as well.
There are exceptions to the foregoing rules, e.g., estoppels and full performance. As a result, the ultimate issue cannot be determined without knowing all of the facts.
(TCO F) Which is not part of the award phase of the contract management process?
The second phase in the contract management process, the award phase, encompasses critical activities for both buyer and seller. During this phase, the buyer selects a source for needed products or services, and the seller participates in contract negotiation and formation, where both parties negotiate the contract terms and conditions in an attempt to reach an agreement that incorporates their respective goals. This step is a particularly crucial...