Inchoate contract correct answers Partially completed or imperfectly formed contract
enforceable contract elements correct answers
verbal contracts correct answers are enforceable
These groups have their own standard form construction contracts correct answers AGC, AIA, EJCDC
construct...
CM 334 Final || A+ Verified Solutions.
Inchoate contract correct answers Partially completed or imperfectly formed contract
enforceable contract elements correct answers verbal contracts correct answers are enforceable
These groups have their own standard form construction contracts correct answers AGC, AIA, EJCDC
construction contract can also be described as correct answers a relational contract
Expectation Damages correct answers damage award includes the profit the contractor would have made had the contract been completed
a contract is a correct answers promise that can be formed by actions or words alone, does not have to be written
most of the laws that we encounter are written by correct answers regulatory agencies
ABC Contracting had constructed a home for an owner who lived overseas during its construction. Upon completing the home, ABC Contracting learned that they had built it on the wrong property. On which legal theory might ABC prevail in a court action? correct answers unjust enrichment
Are bid documents part of the contract documents correct answers No because of the parole evidence rule
any changes made before awarding the contract correct answers addenda
which document records the price of a modification made to the project after signing the contract
correct answers change order
Privity of contract correct answers The relationship that exists between the promisor and the promisee of a contract.
Which one of the following is typically not one of the contract documents: agreement, drawings, schedule, general conditions correct answers schedule
The designer is typically not authorized to correct answers supervise the contractor
the designer can correct answers conduct substantial completion inspections, act on submittals, and review applications for payments
Max number of owner's reps on a single project correct answers unlimited what happens when one party to a contract commits a material breach correct answers the other party is excused from further performance on the contract
Cost Plus Fixed Fee correct answers Other Construction management contracting concepts in which the owner will pay the construction manager a fixed fee plus reimbursement of certain expenses incurred in the performance of basic services.
what must contractor have in a cost plus fixed fee contract correct answers a job cost accounting system
what does a certificate of payment do correct answers authorizes the owner to pay the contractor
why might an owner want to pay a contractor in progress payments correct answers owners have better control, they can incentivize their contractor, and they can obtain the lowest possible construction cost by offering lenders security interest in their project
which pricing method exposes a contractor to the greatest risk of loss correct answers GMP
How can one modify the amount of a fixed-price contract correct answers economic price adjustment, deductive change order, additive change order
Economic Price Adjustment correct answers Alteration permitted and specified by contract provisions for the upward or downward revision of a stated contract price upon the occurrence of
certain specifically defined contingencies ex. change in price of diesel fuel
Which pricing method does not impose a fiduciary duty on a contractor correct answers firm-
fixed-price
Fiduciary Duty correct answers That duty owed by an agent to act in the highest good faith toward the principal and not to obtain any advantage over the latter by the slightest misrepresentation, concealment, duress or pressure.
Which inspections are performed by designer correct answers substantial and final completion
When is the punch list created correct answers after substantial performance is achieved
Types of differing site conditions where statutory law places liability on OWNER and does not allow any clauses to the contrary correct answers burial ground wetlands archaeological sites
equitable correct answers "just and consistent with principles of justice and right"
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