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  2. Accord and satisfaction - Wikipedia

    en.wikipedia.org/wiki/Accord_and_satisfaction

    The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion. At completion, the homeowner complained about inferior work quality and refused to make the final payment.

  3. Punch list - Wikipedia

    en.wikipedia.org/wiki/Punch_list

    In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.

  4. Land contract - Wikipedia

    en.wikipedia.org/wiki/Land_contract

    In 2015, Texas law was changed to automatically place the legal title to the property with the buyer by filing the contract with the deed records office of the county where the property is located. While the seller loses title, the seller retains a vendor's lien in the property for the outstanding balance of the contract.

  5. Retainage - Wikipedia

    en.wikipedia.org/wiki/Retainage

    The contractor has a financial incentive to achieve completion as early as possible (to release the first moiety payment) and to minimise defects in the works (to achieve the second payment). [ 3 ] : 27 Retentions held against sub-contractors are also a key source of cash for main contractors, who may use them to finance new projects.

  6. Tesla details $1 billion costs for new Texas factory ... - AOL

    www.aol.com/news/tesla-details-1-billion-costs...

    Tesla Inc is planning to spend more than $1 billion on its new vehicle factory in Austin, Texas, and plans to complete construction by the end of this year, public filings with a Texas state ...

  7. Oct. 11—The Railroad Commission of Texas issued a total of 626 original drilling permits in September 2024. The total includes 580 to drill new oil or gas wells, 6 to re-enter plugged wellbores ...

  8. Texas drilling permit and completion statistics for June 2024

    www.aol.com/news/texas-drilling-permit...

    Jul. 8—AUSTIN — The Railroad Commission of Texas issued a total of 715 original drilling permits in June 2024. The total includes 648 to drill new oil or gas wells, 5 to re-enter plugged ...

  9. Mortgage - Wikipedia

    en.wikipedia.org/wiki/Mortgage

    Completion: legal completion of the mortgage deed, and hence the start of the mortgage. Redemption: final repayment of the amount outstanding, which may be a "natural redemption" at the end of the scheduled term or a lump sum redemption, typically when the borrower decides to sell the property. A closed mortgage account is said to be "redeemed".

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