12:47
wait whats ur name
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Simple English definitions for legal terms
construction contract
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A quick definition of construction contract:
A construction contract is an agreement between two or more parties that creates obligations that can be enforced by law. It can be a written document that sets out the terms of the agreement, but it can also be an agreement made through verbal communication. A contract is like a promise, and if someone breaks that promise, the law can help to make things right.
A more thorough explanation:
A construction contract is an agreement between two or more parties that creates obligations that can be enforced by law. It is a written document that sets forth the terms and conditions of the agreement.
For example, a construction contract may be created between a property owner and a contractor for the construction of a new building. The contract would outline the scope of work, the timeline for completion, and the payment terms.
The purpose of a construction contract is to ensure that both parties understand their obligations and responsibilities. It provides a legal framework for the project and helps to prevent disputes and misunderstandings.