Significance of the Clause: Venue provisions or forum selection clauses, as their names suggest, are used to designate a particular state or court as the jurisdiction in which parties will litigate disputes arising out of a contract and their contractual relationship.
http://www.harmonie.org/user_documents/Construction%20Digest%20edited%206-26-12.pdf
This article begins a two part “Top Ten” list of construction prime contract provisions, briefly explains the provisions, and identifies potential negotiating points from the Contractor’s perspective. The second part of this Top Ten list will be published in a future issue of Under Construction.
http://www.americanbar.org/publications/under_construction/2013/january_2013/top_ten_construction_prime_contract_provisions_negotiated_owner.html
In arriving at the Contract Sum, Guaranteed Maximum Price and the Contract Time, Contractor has, as an experienced and prudent manager and contractor, exercised its reasonable judgment and expertise to include the impact of such circumstances upon the Contract Sum and the Contract Time.
http://www.harmonie.org/user_documents/Construction%20Digest%20edited%206-26-12.pdf
In determining whether to enforce the contract, the Court of Appeals looked to its adhesive nature, the subject matter of the contract, the parties’ relative bargaining positions, the degree of economic compulsion motivating the adhering party, and the public interests affected by the contract.
http://www.harmonie.org/user_documents/Construction%20Digest%20edited%206-26-12.pdf
Because the Architect has not issued a Certificate for Payment and has not notified the Contractor of the reason for withholding certification as provided in Section 9.4.1, or because the Owner has not made payment on a Certificate for Payment within the time stated in the Contract Documents; or. 4.
http://www.harmonie.org/user_documents/Construction%20Digest%20edited%206-26-12.pdf
Although the Warranty, Guarantee and Certification Clauses in a construction contract differ in the rights and obligation each provides, ultimately they work in concert to ensure that the obligations of each contracting party equal the other party’s expectations.
http://www.harmonie.org/user_documents/Construction%20Digest%20edited%206-26-12.pdf
However, the question as stated assumes that there is already a contract. For example, most residential real estate contracts have a clause stating that the buyer has deposited a sum of money known as earnest money with the real estate broker.
http://msbusiness.com/2015/10/phil-hardwick-the-most-important-clause-in-a-real-estate-contract/
A. Scope of Work/Performance Duties. 1. Definition – A critical contract term -- scope of work -- is often overlooked. Contractors usually trust their estimating teams to fairly and adequately estimate the scope of work shown on the Owner’s drawings.
http://www.americanbar.org/publications/under_construction/2013/january_2013/top_ten_construction_prime_contract_provisions_negotiated_owner.html
d. the remedies for breach of the contract. The most correct answer is “d,” the clause that provides the remedies for breach of the contract. Simply put, the remedies for breach clause is the one that states what happens if one of the parties defaults on the contract.
http://msbusiness.com/2015/10/phil-hardwick-the-most-important-clause-in-a-real-estate-contract/
PHIL HARDWICK — The most important clause in a real estate contract. Posted by: Phil Hardwick in Columns, MBJ FEATURE, NEWS, OPINION, Real Estate & Construction October 8, 2015. T he typical real estate contract has tens, sometimes dozens, of clauses. Each is important, but there is one clause that is generally considered the most important clause in a real estate contract, and in all contracts for that matter. PHIL HARDWICK. If you had to guess, which of the following would you say is the most important clause in a real estate contract:
http://msbusiness.com/2015/10/phil-hardwick-the-most-important-clause-in-a-real-estate-contract/
most important contract clause
A real estate contract is the most important contract clause.