Construction Contracts: Law and Management - 3rd Edition|
This volume aims to teach effective and practical techniques to improve the overall performance and outcome of design projects in various industries. It shows how to maximize budgets, reduce life cycle costs, improve project understanding and create better working relationships.
The term Contract used in the Construction management can be defined as: "An agreement entered into by two parties under the terms of which one party agrees to perform a specific job for which the other party agrees to pay. Contract documents attached to and/or stated in the agreement form integral parts of the contract"
Breach of Contract is the failure to perform it. However, not every failure to perform an obligation amounts to a true breach, as there are a number of excuses for non performance. When a contract has been broken without sufficient excuse or justification, the party who suffers by such breach is entitled to receive from the party in default, a compensation for any loss or damage caused by such breach.
A Contract may be terminated or brought to an end in either of the following ways:
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