Post Utme Futo 2025 Commerce Question 14

Practice objective / multiple choice question 14 from the 2025 Post Utme Futo Commerce examination.

Post Utme Futo 2025 Commerce Objective / Multiple Choice
Question 14 POST_UTME_FUTO • 2025 • COMMERCE • objective

A business law firm is considering a new contract with a client. The contract includes a clause that requires the client to pay a penalty of ₦100,000 if they fail to meet their obligations. What type of contract is this?

Answer Options

A. Fixed-Price Contract
B. Cost-Plus Contract
Correct Answer C. Penalty-Based Contract
D. Time-and-Materials Contract
Correct Answer
C
Correct Option:
Penalty-Based Contract

About This Question

This is Post Utme Futo 2025 Commerce Question 14. It is one of the objective questions from the 2025 Post Utme Futo Commerce examination.

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