The Basis of Contracting What is Contract? A legal document that states and explains a formal agreement between two different people or groups, or the agreement itself. What Is a Legal Contract? Legal purpose. A contract must have a legal purpose to be enforceable. For example, Steve hires Paul to kill Susan. Steve drafts an agreement outlining Paul’s responsibilities, namely to acquire a gun and shoot Susan in the head. …
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Tendering and Contractor Selection Tendering and contractor selection play a vital role in the world of construction projects. When embarking on a construction endeavor, whether it’s building a towering skyscraper, developing infrastructure, or renovating existing structures, the process of selecting the right contractor is crucial. It ensures that the project is executed efficiently, cost-effectively, and …
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Contractual Problems and Solutions Contractual Problems An overview of common provisions and contractual issues for organizations. A contract is a binding agreement between two or more parties, defining the expectations of each participant. This legally enforceable arrangement should make doing business easier – however underlying issues can lead to disputes. Here are four tips to …
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