Construction Contracts 1. Name and briefly describe each of the two basic types of competitively bid construction contracts. Which type would be most likely used for building the piers to support a large suspension bridge. Why? Two basic types of competitively bid construction contracts are lump-sum and the unit-price contract. The lump-sum contract is when the contractor agrees to complete all work for a pre-determined price including profit and the contract. The unit-price contract is when the
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Contract Reflection Yinan Edwards Law 421 7/14/2014 Miriam Gold Contract Reflection After four weeks of studying‚ I found it that I am comfortable with week 2 and week 3‚ but I struggled with week 1 and week 4. Since my background is different from others‚ and China has few in common with the American law system‚ I found it very difficult to understand the law structure and the UCC sales. In the other hand‚ I had a few jobs in a special field‚ and I have run into some problems which are related
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in the Price (2)Changes in consumers’ Income spent on goods and services (3)Changes in the Tastes/Preferences of consumers for goods/services (4)Changes in the Prices of related goods and services: Substitutes and Complements 5) changes in interest rates and the general availability of credit. Many households finance consumption through borrowing. If interest rates rise‚ demand contracts for many goods and services; particularly housing. 6) Natural disasters (storms‚ hurricanes
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Court Court of Common Pleas Citation(s) (1862) 11 Cb (NS) 869; [1862] EWHC CP J35; 142 ER 1037 Transcript(s) Full text of judgment Judge(s) sitting Willes J‚ Byles J and Keating J Felthouse v Bindley (1862) EWHC CP J 35‚ is the leading English contract law case on the rule that one cannot impose an obligation on another to reject one ’s offer. This is sometimes misleadingly expressed as a rule that "silence cannot amount to acceptance". Later the case has been rethought‚ because it appeared that
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Essential Elements of Contract Contract represents the instrument to enforce promises. Not all statements amount to enforceable promises or contracts. To enforce statements there are a number of elements which courts look for and these mainly include the presence of offer‚ its communication‚ its unconditional acceptance and communication of the acceptance. Once this has taken place then the element of consideration gives the badge of enforceability to the contract and the contract is then enforceable
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BREACH OF CONTRACT 1. 2. 3. 4. 5. Default of the debtor (Mora Debitoris) Default of the creditor (Mora Creditoris) Positive malperformance Repudiation Prevention of performance (rendering performance impossible) Default of the debtor (Mora Debitoris) Any obligation under a contract has a time limit for its performance‚ be it an agreed fixed period or in the absence thereof a reasonable period. If the debtor neglects or fails to perform timeously‚ he/she commits breach of contract. Lawyers then
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To what extent does a currency forward contract need to play a formal role in multinational companies? A globalisation has risen over the last 20 years. Because of this factor‚ international markets have increased rapidly‚ therefore a large number of companies have been particularly interested in global operatings‚ such as‚ export trade‚ import trade‚ overseas sales (Moosa‚ 2003). A subsequent significant trouble looming large for
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The Duties and Responsibilities of a Service Crew in any Food Chain are as follows: Responsible for providing courteous and efficient food and beverage services to the guests. To present menu‚ take order‚ suggest and recommend appropriately. To attend and respond to guests’ needs promptly and professionally. To present bills to diners‚ collect payment and give to the cashier‚ return change or credit card to diners. To perform general housekeeping and cleaning duties‚ including sweeping
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now adheres to the principles for Financial Market Infrastructure an international standard to handle counterparty risk on derivatives. 3. The Mor committee on comprehensive financial services for small business and low-income households has recommended all Indians above 18 years of age should have full-service bank accounts by ___? [A]January 1‚ 2015 [B]January 1‚ 2016 [C]March 31‚ 2015 [D]March 31‚ 2016 Answer: 1 Visit www.examsbook.com for GK‚ Current GK of each month‚ Reasoning
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So‚how much money am I getting this year?" That’s the question I hit my momwith every February. And every year she replies‚ "You will see‚" in herChinese accent. February usually marks the month of the New Year accordingto the Chinese calendar. But for me‚ Chinese New Year is a payday. Usually Ireceive red envelopes‚ hong bao‚ which are the equivalent of Christmas presents.Instead of wondering what the present will be‚ though‚ it is the amount of moneyinside that is the mystery. The lucky money
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