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LAW60003 Corporations And Contract Law

tag 0 Download 7 Pages / 1,585 Words tag 30-07-2021

Question:

Anthony is a prestige property developer who is well known in the building and construction industry for developing high quality apartment complexes. He engages Emma as the main contractor to construct a new luxury apartment complex. Due to a previous experience with Emma’s sub-contractors, James insists on a building contract with Emma that provides for the following conditions:

a)Contract price is $15,000,000 and payable to the main contractor in the following manner:

(i)$2,000,000 upon site clearance;

(ii)$8,500,000 after completion of the walls, floors, roof, electrics and plumbing to all the units in the apartment complex;

(iii)$4,500,000 upon certification by the architect that full and final completion has occurred.

b)The main contractor shall at the direction of the developer terminate the employment of any sub-contractor engaged by the main contractor if in the opinion of the developer the sub-contractor’s work is unsatisfactory or his or her conduct constitute gross misconduct.

c)The date for completion is 12 December 2016, time being of the essence.

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My Assignment Help (2021) LAW60003 Corporations And Contract Law [Online]. Available from: https://myassignmenthelp.com/free-samples/law60003-corporations-and-contract-law/contract-law-are-under-statutory-obligation.html
[Accessed 27 January 2023].

My Assignment Help. 'LAW60003 Corporations And Contract Law' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/law60003-corporations-and-contract-law/contract-law-are-under-statutory-obligation.html> accessed 27 January 2023.

My Assignment Help. LAW60003 Corporations And Contract Law [Internet]. My Assignment Help. 2021 [cited 27 January 2023]. Available from: https://myassignmenthelp.com/free-samples/law60003-corporations-and-contract-law/contract-law-are-under-statutory-obligation.html.


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