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Contracts in which one party becomes a surety (acts as guarantor) for another party's debt or other obligation. Contracts for the sale of goods totaling $500.00 or more. In an action for specific performance of a contract to convey land, the agreement must be in writing to satisfy the statute of frauds. The statute is satisfied if the contract ...
In an effort to assist industry professionals with the selection of appropriate project delivery systems, construction management researchers have prepared a Procurement Method and Contract Selection Model, which can be used for high level decision making for construction projects on a case-by-case basis. [3]
Fraudulent transfer liability will often turn on the financial condition of the debtor at a particular point in the past. This analysis has historically required "dueling" expert testimony from both plaintiffs and defendants, which often led to an expensive process and inconsistent and unpredictable results.
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
Construction, interpretation, context Investors Compensation Scheme Ltd. v West Bromwich Building Society [1997] UKHL 28 is a frequently-cited English contract law case which laid down that a contextual approach must be taken to the interpretation of contracts .
Wong's involvement included coordinating corrupt activities and conspiring with city officials to influence work on development projects, obtain city contracts through bribery, and commit fraud. As part of the settlement with the city, Wong and his companies agreed to pay $1.45 million for problematic contracts, as well as an additional ...
A contract uberrimae fidei is a contract of 'utmost good faith', and include contracts of insurance, business partnerships, and family agreements. [27] When applying for insurance, the proposer must disclose all material facts for the insurer properly to assess the risk.
A cost plus contract states that a client agrees to reimburse a construction company for building expenses such as labor, materials, and other costs, plus additional payment usually stated as a percentage of the contract's full price. This type of construction contract is an alternative to lump sum agreements.