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A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [1] has full authority to decide what type of ...
Concession (contract) A concession or concession agreement is a grant of rights, land, property, or facility by a government, local authority, corporation, individual or other legal entity. [1] Public services such as water supply may be operated as a concession. In the case of a public service concession, a private company enters into an ...
Contract law. Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. [1] Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties: the ...
e. A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent [ 1 ] to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be ...
In the United States, the enhanced use lease (EUL) is a method for funding construction or renovations on federal property by allowing a private developer to lease underutilized property, with rent paid by the developer in the form of cash or in-kind services. Currently, EULs are used by the Department of Defense and the Veterans Administration ...
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