Types of Contracts [pic] Choosing type appropriate contract type is essential to successful performance under a contract. The type of contract determines the cost and performance risks which are placed on the contractor. There are two broad contract groups--fixed price and cost reimbursement. Within each of these groups‚ there are various types of contracts which can be used individually or in combination. [pic] Firm Fixed Price Contracts [pic] This type of contract requires the contractor
Premium
1.0 INTRODUCTION TO CONTRACT MANAGEMENT A contract is an agreement having a lawful object entered into voluntarily by two or more parties‚ each of whom intends to create one or more legal obligations between or among them. The elements of a contract are "offer" and "acceptance" by "competent persons" having legal capacity who exchanges "consideration" to create "mutuality of obligation. i.e. 1. Offer and Acceptance 2. Competent Persons 3. Consideration 4. Mutual Obligation 5. Lawful
Premium Contract Common law Management
wrongs. The essential purpose of the law of delict is to afford a civil remedy‚ usually by way of compensation‚ for wrongful conduct that has caused harm to others. A delict is the breach of a general duty imposed by law which will ground an action for damages at the suit of any person to whom the duty was owed and who has suffered harm in consequence of the breach. Just as one and the same act may be a crime and a delict‚ one and the same act may also be a delict and a breach of contract. Actions
Premium Tort Tort law
Elements Of Drama The dictionary definition of Drama is the activity of acting‚ or simply a play for theatre‚ the elements however that make up this intricate and diverse art form are far more complex than the concluding definition. The elements of Drama are essentially building blocks that culminate in the finality of this wholesome‚ rigorous activity. A simple way to understand a form as complex as Drama‚ is to look at it as a physical project‚ like building a house. The first and most important
Premium Theatre Audience Plot
3.1 Consequence of breach of covenants When a landlord leases his property to a tenant‚ he is under the obligation to monitor and ensure that the tenant is complying with the terms or covenants stipulated in the lease. Covenants such as the use of premises‚ insurance‚ keeping the business open‚ the right to assign‚ pay rent and repair are incorporated in lease agreements. If the landlord establishes that any of these covenants has been breached‚ he can bring an action against the tenant. But after
Premium Renting Landlord Rental agreement
Contract Bundling 1. What is contract bundling? According to FAR 2.101 the definition of a bundled contract or bundling refers to the consolidation of two or more procurement requirements for goods or services previously provided or performed under separate smaller contracts into a solicitation of offers for a single contract that is likely to be unsuitable for award to a small business. What this really means is that contract bundling happens when two or more contracts intended for small businesses
Premium Small business Economics Business
CONTTRACT ACT‚ 1872 The Law of contract is that branch of Law‚ which determines the circumstances in which promises made by parties to contract shall be legally binding on them. Every one of us enters into a number of contracts from morning until night. Examples: 1) Buying Milk early in the morning. 2) Boarding BEST Bus 3) Borrowing Money from Friend 4) To see movie. 5) Purchasing goods from shops. This how we enter into contracts though we are not conscious of it
Premium Contract
How is it that 4 out of the 118 elements comprise over 96% of all living organisms? It is due to their reactive nature and ability to form bonds. One might ask why or how they are so reactive with other elements. Just as anything else in the universe seeks stability‚ so do atoms. Each of these 4 atoms seeks stability through their electrons. For example‚ hydrogen has 1 electron in its valance shell and it has the ability to fill that shell with up to 2 electrons thus it seeks another atom that
Premium DNA Metabolism Oxygen
Monte Carlo simulation based tool designed to assess uncertainty in supply networks. We describe its application and discuss the possible drawbacks of our approach. 1 INTRODUCTION Events within the past decades have shown the extent to which companies‚ and subsequently their supply chains‚ are vulnerable to adverse events (Deleris‚ Erhun‚ and PatéCornell 2004). This observation should be an expected outcome of recent developments in supply networks. For instance‚ researchers comment on increasing reliance
Premium Supply chain management Risk Risk assessment
Law Accepted Paper Series FROM FREEDOM OF CONTRACT TO FORCING PARTIES TO AGREEMENT R.J.P. Kottenhagen• Published in From Freedom of Contract to Forcing Parties to Agreement. On the Consequences of Breaking Off Negotiations in different Legal Systems‚ 12 Ius Gentium‚ Journal of the University of Baltimore Center for International and Comparative Law 2006‚ 61 – 95 • Associate Professor of Law Erasmus University Rotterdam . 1 FROM FREEDOM OF CONTRACT TO FORCING PARTIES TO AGREEMENT Address to
Premium Common law Contract Civil law