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Nature of contract in construction
Nature of contract in construction
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A contract is an agreement between two parties. Contract law is the main area which building contracts are administered. The legal aspect of a building contract is contained in written conditions either of a general or special nature. The two parties agree to work within the conditions set down and are obliged to adhere to them or suffer penalties which are either stated within the contract or which are implied by the nature of the contract. Contracts of this nature are legally binding on both parties and a judgment given against either party carries the force of the law under which the contract is enacted. (McLangan, 1991). The law of contract will applies only when either one the of party has breached the contract or do something which is not according to the contract’s requirement for example: where the principal fails or refuses to pay for work certified for payment or where the contractor does not proceed with work with due diligence or in accordance with the agreed time and performance programme. Other than taking legal action under the law of contract, courses of action open to the parties in a contract include determination of the contract, discharge of liabilities, release from obligation and variation by mutual consent. (D Khoury et. al, 1992)
Any breach of contract gives rise to a cause of action; not every breach gives discharge from liability. This will depend whether the term of breached is a condition or a warranty or whether there has been repudiatory breach...
This case study examines various real estate contracts – the Real Estate Purchase Contract (REPC) and two addendums labeled Addendum No. 1 and Addendum No. 2 – pertaining to the sale of 1234 Cul-de-sac Lane in Orem, Utah. The buyers in this contract are 17 year old Jon D’Man and 21 year old Marsha Mello; the seller is Boren T. Deal. The first contract created was Jon and Marsha’s offer to purchase Boren’s house. This contract was created using the RESC form, which was likely provided by their real estate agent as it is the required form for real estate transactions according to Utah state law. The seller originally listed the house on a Multiple Listing Service (MLS); Jon and Marsha agreed that the asking price was too high for the neighborhood (although we are not given the actual listing price), and agreed to offer two-hundred and seven-thousand dollars ($207,000) and an Earnest Money Deposit of five-thousand dollars ($5,000). Additionally, the buyers requested that the seller pay 3% which includes the title insurance and property taxes. After the REPC form was drafted, the two addendums were created. Addendum No. 1 is from the seller back to the buyer, and Addendum No. 2 is the buyer’s counteroffer to the seller.
To terminate a contract, sufficient evidence should be gathered through performance; agreement; operation of law; breach or by frustration. Here in this case, the most relevant way to form an eligible termination will be the breach.
Breach is where one party fails to carry the term in the contract. Therefore, the injured party is able to claim damages for loss due to breach of contract.
Chua believes that Chinese parents force their children to be academically successful in order to reach “higher” goals in life. She emphasizes this when she states “…Chinese parents have … higher dreams for their children…” (Chua 8). Although Amy set higher s...
Contracts are legally enforceable promises. There are two requirements for contract formation: agreement and consideration. An agreement involves a valid offer being made by an offeror to an offeree and said offer being validly accepted by the offeree and communicated to the offeror. The second requirement is consideration, meaning the two parties exchange something of legal value. Contracts serve the purpose of ensuring stability, predictability, and certainty, as well as deterring defection, in business dealings. The objective theory of contract law states that only the language of the contract should be considered in contract interpretation. This theory ignores entirely the intent of the parties. However, contract law is largely
"A contract is a legally enforceable promise or set of promises. In other words, when promises have the status of contract, the contracting party harmed by a breach of the contract is entitled to obtain legal remedies against the breaching party" (Mallor et al., 2015, p. 320)
Amy Chua (2011) names off three reasons that support her argument in why Chinese children are more successful. First, she mentions that Westerners worry too much on how their child will accept failure, whereas Chinese parents assume only strength in their child and nothing less. For example, if a Western child comes home with a B on a test, some parents will praise the child on their success and some may be upset, while a Chinese parent would convince their child they are “worthless” and “a disgrace.” The Western parents hope to spare their children’s feelings and to be careful not to make their child feel insecure or inadequate, while Chinese parents demand perfect grades because they believe their children can get them (Chua, 2011). Secondly, Chinese parents believe their chil...
The case presented is that of Sam Stevens who resides in an apartment. He has been working on an alarm system that makes barking sounds to scare off intruders, and has made a verbal agreement with a chain store to ship them 1,000 units. He had verbally told his landlord, Quinn, about his new invention and Quinn wished him luck. However, he recently received an eviction notice for the violation of his lease due to the fact that his new invention was too loud and interrupting the covenant of quiet of enjoyment of the neighbors and for conducting business from his apartment unit.
Contractual agreement has always been viewed in terms of offer and acceptance. The universal principle to contract law has always been parties may get into an agreement in whichever way they deem fit and they are subject to certain terms as they choose. As far as legal requirements vital to their formation are binding contracts may be formed. Moreover a binding agreement may be manifested in terms of writing or in verbal form.
The concept of beauty during the Middle Ages consisted of the idea that beauty was directly correlated to spirituality. In other words, a person was judged as either good or bad based on their outer appearance, as well as their standing in society. Therefore, executions of beauty manifested in the arts was limited to only a certain class of individuals and was more determined by what a person’s status was in society. In addition, artwork of people was made to be mostly concentrated on the countenance, with artificially smooth skin, intentionally showing no sign of blemish or flaw unless by accident. A shift occurred during the Italian Renaissance, the human body in its entirety was celebrated among the masses and could be considered beautiful
Based on common law and precedent, the English law of contract has been formulated and developed over a number of years with it’s primary purpose to provide a regulated framework within which individuals can contract freely. In order to ensure a contract is enforceable there are certain elements which must be satisfied, one of which is the doctrine of consideration. Lord Denning famously professed; “the doctrine of consideration is too firmly fixed to be overthrown by a side wind” . This is a crucial indication that consideration has long been regarded as the cardinal ‘badge of enforceability’ in the formulation and variation of contracts in English common law.
Education is the catalyst for success. In America, we like to think that our school system is rigorous in preparing students for college and work. Many students struggle to cope with the American curriculum, so it must be intense, right? Those who can keep up are prone to succeed in our society. If the top Americans lived in China, though, things would be different. Some of these “top” students would find themselves working for minimum wage in dead end jobs. Why? It is because America’s school system is not rigorous. In fact, we barely made it to the top thirty in academic rankings last year. So why are countries like China and Singapore beating us to the punch? The answer is simple. They care more. The schools care enough to invest in better teachers and to teach a truly rigorous curriculum. Parents care enough to enforce discipline and to participate actively in their children’s school experience, and the children care enough to listen. Together, American schools, parents, and children can improve the country’s educational ranking by investing in better teachers, enforcing discipline at home, and creating a tougher curriculum that fits our need to become a serious competitor against Asia.
Sleep has a very important role in a person’s physical health and wellbeing, yet in the U.S., only 56% of Americans get recommended amount of sleep. The average sleep requirement for students in college is around 8 hours. If students don’t reach that amount, they have created a sleep debt. A sleep debt is when all lost sleep accumulates to create a larger sleep indebtedness. The sleep debt does not disappear or decline; you can only reduce your debt by obtaining extra sleep above the daily requirement.
...tem different than the American Education system are mostly small things but there are some larger differences as well. Some of the small differences are that in China the students attend school six days a week, and that they have vacations in July and August. Some of the larger differences are that standardized tests are considered more important than grades when being considered for colleges, and that children are not supposed to ask questions in class they are only supposed to listen to lectures. In America questions are considered to be one of the major keys to understanding what you are learning. Questions are encouraged to broaden the thoughts of not only the students but also possibly the teachers as well. There are reasons that the Chinese education system is the way that it is and that is their choice to keep it that way. The government has major control over what is taught in schools and this effects what happens in them and what is learned. In America a school’s curriculum are made up by the local government and so it can vary from state to state. This is not to say that American education is right and China’s education is wrong I am just pointing out the differences.
This paper examines the legal aspects of procurement management and specifically how procurement management can be used as an effective tool for the overall management of a project. This paper focuses on the basics of common contract laws, the basics of agency law, the Uniform Commercial Code (UCC), and some aspects of that pertain to the Federal Acquisition Regulations (FAR). A summation of the company’s position in relation to a given supplier (provided the company decides not to procure all of the material in a contract) will be examined along with how that position is strengthened by understanding the legal aspects of procurement management. Finally, the paper will analyze how the project manager is supported by the contracting management function.