CM 334 Module II Exam || with 100% Errorless Solutions.
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Course
CM 334 Module I
Institution
CM 334 Module I
What are concealed or unknown conditions? correct answers aka differing site conditions, differing conditions or changed conditions
occur when conditions that the contractor actually finds on a construction site during construction are not the same as what the contractor expected to find at the ...
CM 334 Module II Exam || with 100% Errorless Solutions.
What are concealed or unknown conditions? correct answers aka differing site conditions, differing conditions or changed conditions
occur when conditions that the contractor actually finds on a construction site during construction are not the same as what the contractor expected to find at the time when the contract for construction was formed
ex: asbestos, lead based paint, etc.
What does time is of the essence mean? correct answers time is a performance obligation if failure to complete on time constitutes a material breach from which damages for late completion
will flow
time may not be a performance obligation unless your contract has this phrase
What is course of performance? correct answers based upon the premise that the parties themselves know best what they meant by their word; looks to the party's actions pursuant to the contract documents that are at issue
What is a Changes Clause? correct answers solves the change dilemma in which one party wants to change the contract but the other does not a legal device empowers an owner to order a change in the work under which the contractor is instructed to proceed with the change and produce, in good faith, an estimate of costs for the the owners approval under the typical changes clause, the owner cannot withhold his approval without good cause and must pay the contractor for all approved changes
What are liabilities? correct answers a legal obligation or accountability that must be satisfied at the expense of the liable party
What is a claim? correct answers name that contractors use for a circumstance where a contractual dispute becomes a demand for money
What are security interests? correct answers created by contractual agreement between the parties, usually through the written terms of a construction loan agreement or a mortgage
right to foreclose; way to protect parties invovled
What is course of dealing? correct answers same as course of performance except that it looks to how the parties conducted themselves during past projects What is usage? correct answers habitual or customary practice that is implied in the meaning of the words
What is the Spearin Doctrine? correct answers emerged from U.S. v. Spearin; created an implied warranty that plans and specs provided by the owner are free of design defects known to the architect
ex: if the architect knew soil type but failed to incorporate those conditions into the design, and the contractor was misled, the owner is responsible for the consequences
What happens when the construction lender and a contractor both have a security interest against
the same building? correct answers There is only one building to sell in foreclosure and usually not enough money from that sale to pay off everybody standing in line to get paid
By law, the first person in time with a security interest against a building is the first person in line to get paid
What is a cardinal change? correct answers a major undertaking, substantially different from anything originally contemplated in the contract
(County of Cook v. Henry Harms)
an owner cannot order an extreme change to the scope of work
What are differing site conditions? correct answers a model provided by the FAR that has gained
acceptance in both the public and private sectors
1. contractor is to give a written notice to the Contracting Officer before conditions are disturbed
2. Contracting Officer is to investigate site conditions promptly after notice is received
3. No request by the contractor for an equitable adjustment to the contract under this clause shall be allowed unless contractor has given written notice required
4. No request by the contractor for an equitable adjustment to the contract for differing site conditions shall be allowed if made after final payment under this contract
Suppose a changes clause is included in the owner-contractor agreement but the contractor did not include a changes clause in his contract agreement with his subcontractor. If the owner decides to remove scope of work of that subcontractor, will the subcontractor still get paid? correct answers The contractor is obligated to pay the subcontractor for his full contract sum because without a changes clause, neither party is required to agree to changes in the scope of work.
Standard form construction contracts do not expressly prohibit early completion by a contractor correct answers A contractor who completes especially early may still be compelled by obligations of good faith and fair dealing to notify an owner of his intent to complete early
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