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Video Guide on Legal Agreements for Construction management

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Commonly Asked Questions about Legal Agreements for Construction

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.
Every contract, whether simple or complex, is considered legally enforceable when it incorporates six essential elements: Offer, Acceptance, Awareness, Consideration, Capacity and Legality. It is critical that all six elements are presentjust one missing element can make a contract invalid and unenforceable.
6 Essential Elements of a Contract Offer. Acceptance. Awareness. Consideration. Capacity. Legality.
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.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, elements of consideration can be satisfied by a valid substitute.
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.
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.
A construction contract is an agreement between two or more parties to perform construction on a project ing to certain terms and conditions. These contracts are comprised of general and special conditions.