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Construction Legal Contracts

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Video Guide on Construction Legal Contracts management

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Commonly Asked Questions about Construction Legal Contracts

Here are what the Smith + Malek team has seen as the most common errors in construction contracts: Its not written down. Both parties havent signed the contract. Not all of the terms of the agreement are in writing and in the contract. The timeline is unclear. Particular terms arent defined.
A contract is a legal agreement between two or more parties in which they agree to each others rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
Lump sum contracts, also called fixed price contracts, establish a fixed price for all of the materials and labor required to complete a job. This is the most basic and common type of construction contract.
Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.
Five main principles of Contract Law: Offer and acceptance, consideration, intention to create legal relations, capacity, and legality.
Your attorney has a solid understanding of the four major elements that make up a construction contract, and can counsel you during the drafting of your contract. Scope Of Work. Change Order Provisions. Indemnification. Payment Provisions.
To that end, before you sign anything and start working, make sure your contract has these 5 key elements. A Detailed Scope of Work. Project Cost and Payment Schedule. Construction Timeline. Change Order Process. Project Issues and Dispute Resolution.
6 Essential Elements of a Contract Offer. Acceptance. Awareness. Consideration. Capacity. Legality.

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