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CEM 100 Questions with Answers (100%
Correct Answers)
Concerning a construction contract dispute where there is a CONFLICT
BETWEEN DRAWING & SPECIFICATION & interpretations hierarchy is
not spelled out anywhere else in the contract documents, from construction
industry past practice, the governing doc. would be the ___. Answer:
specifications
___ are used as a penalty for LATE COMPLETION & is used in LIEU of a
determination of actual DAMAGES suffered by the owner. Answer: liquidated
damages
In order to have a VALID CONTRACT, IT MUST HAVE ALL of the
following essential elements except ___.
-THESE ARE ALL Answer: - offer & acceptance of the offer (effectively
agreement)
- the contract must not be contrary to the public policy
- a price paid (not necessarily money)
- there must be genuineness, proper understanding & consent of what is
involved by the parties to the terms of the contract
In construction contracts, the typical WARRANTY PERIOD is ___. Answer:
1 year
In the enforcement of construction contracts, ___ or more technically referred
to as the equitable remedy of ___ is in SPECIAL circumstances where by the
court may order the CONTRACT-BREAKER to carry out his contractual
promises PRECISELY. An example of ___ is a home builder who had a house
under contract w/ 1 buyer to sell @ 1 price upon completion but then the
market took off (LV Hot Real Estate Market Ex 03-05) & then tried to back out
, 2
of the sale. The court in this case who compel ___. Answer: specific
performance
Concerning project documentation, GOOD DOCUMENTATION must be all
of these except:
- complete
- objective
- credible
- accurate
- uniform Answer: untimely
The ___ clause in a construction contract refers to some physical aspect of the
project that is materially DIFFERENT from that indicated by the contract
documents, or that is of an UNUSUAL NATURE & is materially different
from the conditions normally encountered. Answer: differing site conditions
Concerning construction disputes, the cost of disputes as time goes on will have
costs escalate & as more people get involved these costs will also escalate.
Therefore to control costs we want to RESOLVE DISPUTES quickly.
Techniques for quickly resolving disputes such as by ARBITRATION &
mediation are referred to as ___. Answer: alternative dispute resolution
Time is an important element in the performance of most construction
contracts. In the construction contract documents, contained is usually a
statement in the contract documents that "TIME IS OF THE ESSENCE"
related to the contractor's performance of the project. This statement would
typically be found in the ____. Answer: general conditions
CONDITIONS in the contract documents that provide information that is
specific to a project IMMEDIATELY FOLLOWS the general condition in the
industry as Answer: supplementary conditions
CEM 100 Questions with Answers (100%
Correct Answers)
Concerning a construction contract dispute where there is a CONFLICT
BETWEEN DRAWING & SPECIFICATION & interpretations hierarchy is
not spelled out anywhere else in the contract documents, from construction
industry past practice, the governing doc. would be the ___. Answer:
specifications
___ are used as a penalty for LATE COMPLETION & is used in LIEU of a
determination of actual DAMAGES suffered by the owner. Answer: liquidated
damages
In order to have a VALID CONTRACT, IT MUST HAVE ALL of the
following essential elements except ___.
-THESE ARE ALL Answer: - offer & acceptance of the offer (effectively
agreement)
- the contract must not be contrary to the public policy
- a price paid (not necessarily money)
- there must be genuineness, proper understanding & consent of what is
involved by the parties to the terms of the contract
In construction contracts, the typical WARRANTY PERIOD is ___. Answer:
1 year
In the enforcement of construction contracts, ___ or more technically referred
to as the equitable remedy of ___ is in SPECIAL circumstances where by the
court may order the CONTRACT-BREAKER to carry out his contractual
promises PRECISELY. An example of ___ is a home builder who had a house
under contract w/ 1 buyer to sell @ 1 price upon completion but then the
market took off (LV Hot Real Estate Market Ex 03-05) & then tried to back out
, 2
of the sale. The court in this case who compel ___. Answer: specific
performance
Concerning project documentation, GOOD DOCUMENTATION must be all
of these except:
- complete
- objective
- credible
- accurate
- uniform Answer: untimely
The ___ clause in a construction contract refers to some physical aspect of the
project that is materially DIFFERENT from that indicated by the contract
documents, or that is of an UNUSUAL NATURE & is materially different
from the conditions normally encountered. Answer: differing site conditions
Concerning construction disputes, the cost of disputes as time goes on will have
costs escalate & as more people get involved these costs will also escalate.
Therefore to control costs we want to RESOLVE DISPUTES quickly.
Techniques for quickly resolving disputes such as by ARBITRATION &
mediation are referred to as ___. Answer: alternative dispute resolution
Time is an important element in the performance of most construction
contracts. In the construction contract documents, contained is usually a
statement in the contract documents that "TIME IS OF THE ESSENCE"
related to the contractor's performance of the project. This statement would
typically be found in the ____. Answer: general conditions
CONDITIONS in the contract documents that provide information that is
specific to a project IMMEDIATELY FOLLOWS the general condition in the
industry as Answer: supplementary conditions
