it possible for one standard form of construction contract to meet the need of every project? Discuss by reference to at least two forms in common use in industry. | 2 | 1.0 | What is a Construction Contract? | 2 | 1.1 | Why use a standard form of contract? | 3 | 2.0 | Different forms of contract | 3 | | 2.1 PWD (Public Works Department) FORM OF AGREEMENT | 4 | | 2.2 FIDIC | 4 | 3.0 | Main differences between both forms of contract | 6 | | 3.1 Payments | 7 | | 3.2 Variation
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Provisions and Contingencies Scenario 1 Fact: Energy Inc. (Energy‚ or the Company)‚ which operates in the oil industry‚ is a U.S. subsidiary of a U.K. entity that prepares its financial statements in accordance with IFRS and U.S. GAAP. A draft law in a country where Energy operates in‚ which requires a cleanup of land already contaminated‚ will possibly be enacted shortly after the year-end. Issues: Should Energy recognize a provision‚ (i) in reporting under IFRSs‚ and (ii) in accordance
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supplier‚ and wanted the equipment on a long lease and not outright purchase The committee formed by CORPORATION didn’t want to take the responsibility of the each and every item that was being purchased because in that case they would have had to run behind 100 vendors for the warranty and related problems usually surfacing in a contract of such scale. Also‚ this would lead to a hassle filled atmosphere in successive months‚ on part of CORPORATION involving at the very least set-up of a dedicated
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------------------------------------------------- TABLE OF CONTENTS PAGE 1 STANDARD OPERATING PROCEDURES (SOP) 2 1.1 Introduction 2 2 ROLE OF THE CONTRACT ADMINISTRATOR 3 2.1 Role and Responsibilities of the Contract Administrator 3 3 PAYMENT PROCESS 4 3.1 AS 4000 - 1997 4 3.2 JCC –C 1994 5 3.3 AS 2124 - 1997 5 4 THE PROCESS OF CASH FLOW IN THE CONSTRUCTION INDUSTRY
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OUTLINE OF LECTURE IN LAW ON CONTRACTS (Defective Contracts) 1. Defective contracts a. Rescissible contract – valid until rescinded; b. Voidable contract – valid until annulled; c. Unenforceable contract – cannot be sued upon or enforced unless ratified; d. Void contract – no effect at all‚ cannot be ratified or validated 2. Rescission Rescission is the remedy granted by law to the contracting parties and sometimes even to third persons in order to recover indemnity
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Assignment 3 (Fictitious) Boat Afloat P/L Report. Report Summary. Boat Afloat P/L is a newly established fishing tour company which will operate via e-commerce. Boat Afloat P/L investigates areas of exceptional fishing around Australia and then arranges fishing tours to these destinations. Boat Afloat P/L total contingent is the managing director‚ the general manager / research expedition leader and an office clerk. Boat
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Contract Law Introduction In the following case note I will examine the High Court case; Smart Telecom Plc. V Radio Teilefis Eireann & Glanbia Plc. [2006] IEHC 176. The essence of this case is one involving a request for tenders put forward by RTE for sponsorship and the subsequent refusal of Smart Telecom’s referential bid thereto. The questions raised were (1) whether referential bidding was a permissible term of RTE’s offer and (2) if not‚ were they were obliged to re-tender the contract
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This quote is still valid today because it still effects us. Noone is different from eachother we were all created equally in our own ways. Besides the color of youre skin were the same people that want the same thing. We have our freedom to a certain extent. With this freedom we should greatful‚ in other countries the don’t have the type of freedom that we have. Among these rights we have “life‚ liberty‚ and the pursuit of happiness.” We have the life and liberty to do as we please‚ an example we
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Question 1. When deciding on the research design‚ one choice is whether to use an experimental or non-experimental design. This depends on the aim of the study. If the aim is to test a prediction that two or more variables are simply associated with each other‚ the researcher may decide to use a non-experimental or correlational design. However‚ if the aim is to test a prediction that there is a causal relationship between two variables‚ then an experimental design is needed. The correlational design
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common law‚ a contract is a legally binding agreement between two or more parties that sets an exchange of promises of what each party will or will not do".(Elliott‚2011‚p.13) The contract can be unilateral and bilateral. if the oferee can accept simply by promising to perform‚ the contract is bilateral. Bilateral contract is a "promise for a promise"‚ and in order to be formed‚ is not need for consideration to be made at the time when the promises are exchanged . In a unilateral contract‚one party
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