Podcast
Questions and Answers
What is the primary purpose of a contract?
What is the primary purpose of a contract?
- To establish social connections
- To dictate personal relationships
- To provide financial assistance
- To create mutual legal obligations (correct)
Why are most contracts required to be in writing when a significant amount of money is involved?
Why are most contracts required to be in writing when a significant amount of money is involved?
- To simplify enforcement (correct)
- To reduce legal validity
- To prevent misunderstandings
- To enhance verbal communication
Which method of entering a construction contract is common for small domestic works like extensions or repairs?
Which method of entering a construction contract is common for small domestic works like extensions or repairs?
- By exchange of letters (correct)
- Implied by conduct of the parties
- Using a written contract
- By word of mouth
What is the most challenging aspect of enforcing an oral contract?
What is the most challenging aspect of enforcing an oral contract?
In construction contracts, what should be avoided, especially due to their capital intensity?
In construction contracts, what should be avoided, especially due to their capital intensity?
Which documents are typically included in the contract documents for a construction project?
Which documents are typically included in the contract documents for a construction project?
What is one of the essential requirements for a contract to be considered valid?
What is one of the essential requirements for a contract to be considered valid?
What is the term used for an offer in construction?
What is the term used for an offer in construction?
What document is often used to inform a contractor to prepare for work?
What document is often used to inform a contractor to prepare for work?
Which document is NOT listed as an essential part of every contract?
Which document is NOT listed as an essential part of every contract?
When does a contract come into existence?
When does a contract come into existence?
What must each party in a contract have exercised in order for the contract to be valid?
What must each party in a contract have exercised in order for the contract to be valid?
