UnitedLex Analyst Interview Questions and Answers for Experienced

Important things to check while processing invoices include accuracy, proper documentation, approval, and matching with purchase orders.

• Verify accuracy of invoice details such as amounts, dates, and vendor information

• Ensure proper documentation is attached, such as receipts or purchase orders

• Confirm approval from authorized personnel before processing payment

• Match the invoice with corresponding purchase orders to preve

Contracts are legally binding agreements between two or more parties.

• Contracts are formed when there is an offer, acceptance, consideration, and intention to create legal relations.

• Essential elements of a contract include offer, acceptance, consideration, intention to create legal relations, capacity, and legality of purpose.

• Example: A contract for the sale of goods where one party offers to sell a product, the other p...read more

Types of termination of Contracts include termination by performance, termination by agreement, termination by breach, termination by frustration, and termination by operation of law.

• Termination by performance occurs when both parties fulfill their obligations under the contract.

• Termination by agreement happens when both parties mutually agree to end the contract.

• Termination by breach occurs when one party fails to ful...read more

Elements of a valid contract include offer, acceptance, consideration, legal capacity, and legal purpose.

• Offer: One party must make a clear offer to another party.

• Acceptance: The offer must be accepted by the other party.

• Consideration: Both parties must exchange something of value.

• Legal capacity: Both parties must have the legal capacity to enter into a contract.

• Legal purpose: The contract's purpose must be legal.

Different types of agreements include verbal, written, implied, unilateral, bilateral, and executory agreements.

• Verbal agreements are made through spoken words.

• Written agreements are documented in writing.

• Implied agreements are inferred from the actions or conduct of the parties.

• Unilateral agreements involve a promise from one party to another.

• Bilateral agreements involve promises from both parties.

• Executory agreements...read more

Termination clause defines conditions under which a contract can be ended. Types include for cause, without cause, and automatic termination.

• Termination clause outlines the circumstances under which a contract can be terminated

• Types of termination include for cause, without cause, and automatic termination

• For cause termination occurs when one party breaches the contract

• Without cause termination allows either party to e...read more