WEEK 3 – THE FORMATION OF CONTRACTS Apply Your Knowledge (EXERCISE 4 – CONTRACT OR NOT?) Review the essential elements of a valid and enforceable contract and decide whether a valid‚ void or voidable contract has been formed in each of the following situations. Provide a legal explanation for your decision. 1. Last year‚ Smith‚ the owner of a retail business‚ in an attempt to reduce employee absenteeism due to illness‚ offered to give any employee who quit smoking for a year a $500
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Option B a) Late Interim Payments by Employer The various contractual provisions in relation to the late interim payments by the Employer will be addressed with the use of the JCT Standard Building Contract With Quantities 2005 Edition (JCT SBC05) Revision 2 2009. According to Clause 4.13.1 of the (JCT SBC05) Rev 2 2009‚ the Employer is obliged to pay the amount due as stated in the Interim Certificate within 14 days from the date of issue. According to Clause 4.13.3 & 4.13.4 of the (JCT SBC05)
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Consideration in contract formation ------------------------------------------------- Top of Form Consideration is essential to the formation of any contract made without deed. It distinguishes a bargain or contract from a gift. Lush J in the case of Currie v Misa (1875) referred consideration consist of a benefit to the promisor or a detriment to the promisee as: “Some right‚ interest‚ profit or benefit accruing to one party‚ or some forbearance‚ detriment‚ loss or responsibility given‚ suffered
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PUBLIC PROCUREMENT AND CONTRACT ADMINISTRATION Overview of Procurement Procurement is the acquisition of goods‚ works and services at the best total cost of ownership‚ in the right quality and quantity and at the right time. It also involves the acquisition of goods and services at the right place and from the right source. Public Procurement is the acquisition of goods‚ works and services by Government Ministries Departments and Agencies. In an effort to provide development and fulfil
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MIND MAP 3. Formation of a contract A legally enforceable contract must have 3 elements: 1. Agreement 2. Intention to be legally bound 3. Deed or consideration State clearly: What is being bought/sold? Price payable? Was there an OFFER and ACCEPTANCE? NOTE: Offer + Acceptance = Agreement Judged objectively reasonable person test What sort of agreement is it? Domestic not binding Commercial binding NOTE: Presumptions are rebuttable. Is
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services required for the construction‚ design‚ and administration of the building. This will include: Programming‚ cost estimating‚ structural engineering‚ landscaping‚ and interior design. 1.2 Bid/Submittal Requirements Upon award of the contract‚ the vendor will submit the following: 1. Letter of Interest: a. The letter will briefly describe the firm’s qualifications and past experience. The signature on contractual documents must be by the president/principal of the firm. 2. Qualifications/Expertise
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663 Public Procurement Act‚ 2003 ARRANGEMENT OF SECTIONS Sections PART I—ESTABLISHMENT OF THE BOARD 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Public Procurement Board Object of the Board Functions of the Board Membership of the Board Term of office Meetings of the Board Committees of the Board Secretariat of the Board Chief Executive of the Board Expenses of the Board Accounts and audit Financial year of the Board Annual report PART II—PROCUREMENT STRUCTURES
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analysis will justify my decision for the business process outsourced by the followings: * Establish the preliminary performance targets/level of service that will be required from the selected vendors * Establish the type of contract that you will use for each contract * Determine the evaluation criteria you will use to select the preferred vendor(s) * Identify the number of vendors that you will select to provide the services to be outsourced * Construct a timeline that summarizes
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Department with approximately 300 people Negotiated procurement – works best for large purchases i.e.‚ equipment‚ land‚ or buildings. Companies require negotiation as part of the process in order to lower the cost of the assets as much as possible. This method will often need different competencies from the procurement office. The technology industry typically negotiated procurement process. During the negotiated procurement process‚ no one can get from the government‚ a contractor’s
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BUILDING ECONOMICS (YEAR THREE) 0702872330 nyinetinka@gmail.com QUESTION Does a procurement route determine the type of contract to be used? DEFINING KEY WORDS PROCUREMENT Procurement is the process of establishing the most appropriate method of managing the construction project and selecting the best team to design‚ deliver and sometimes operate the required facility. Procurement route: The term ’procurement route ’ is used to describe the often complex network of relationships which are
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