Here is the synopsis of our sample research paper on RISKS, OBLIGATIONS AND CONTRACTS. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This paper explains various facets of contract law, such as risks and obligations, as well as cost factors. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTconlaw.rtf
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Unformatted sample text from the term paper:
There is implied agreement that if a particular party requires services from an expert, that the expert will provide quality services in a timely fashion. Implication, however, doesnt do a
whole lot if a project isnt completed to the buyers satisfaction. But if there was no formal contract between the two parties, the buyer has little to stand on (other
than withholding payment from the seller). As such, everything needs to be outlined - especially potential excess costs that can occur in a particular job or function between two individuals.
The contract provides that tool - but it must be remembered that contracts are only as binding as the two individuals (or representatives) that sign them.
When it comes to risk or understanding of projects, contracts are invaluable tools - as long as they are crafted properly. The basic contract delineates what
each party is responsible for; what each party receives; the time for performance; monetary recompense; at time, consequences of failure - and overall, who or what is responsible (Critchlow, 2002).
Once both parties agree to the conditions of each contract, they are signed. The problem becomes, however, when contingencies arent planned for. On a construction job, for example, what happens
if a project is delayed due to weather or even a union strike of employees? These are all risks that contractors take into account - and they are risks that
must - and generally are - written into specific contracts before, for example, ground is broken on a particular building or parking lot.
The question becomes, how does one translate risks into contract clauses - can this even be done? The answer is, yes - it has to be done all the
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