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The mere failure to make inquiry, even though there be suspicious circumstances, does not constitute bad faith, unless said failure is due to the deliberate desire to evade knowledge because of a belief or fear that inquiry would disclose a vice or defect in the transaction, – that is to say, where there is an intentional closing of the eyes ...
Common fringe benefits can vary from meal plans to health insurance cover, retirement plans, company cars and even interest-free loans for the purchase of housing. Fringe benefits are also often tax deductible for the employee. The level of STI relative to basic salary is typically a function of seniority eg. a junior executive may have an STI ...
Construction law builds upon general legal principles and methodologies and incorporates the regulatory framework (including security of payment, planning, environmental and building regulations); contract methodologies and selection (including traditional and alternative forms of contracting); subcontract issues; causes of action, and liability, arising in contract, negligence and on other ...
There are two types of FHA construction loans: an FHA construction-to-permanent loan and a FHA 203(k) loan. FHA construction loans can be rolled into an FHA permanent mortgage.
FHA construction loans: For as little as 3.5 percent down, you can get a construction loan insured by the Federal Housing Administration (FHA). These come in the form of a construction-to ...
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
Failure to comply with any requirement will usually result in the contractor incurring monetary liabilities. The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work.
Shortly after construction was completed, Holmdene's bricks "were beginning to crumble and decompose," [1] manifesting a condition known as "efflorescence," which threatened the stability of the entire edifice. The affected walls were perforce demolished, and Roberts sued for consequential damages arising from the breach of the contract.