Lecture 6

Question 1

Sources of Law

Answer 1

• Statute Law
• Common Law
• Regulations
• By-Laws

Question 2

What is a contract

Answer 2

• a promise(s)
• between capable parties
• that create an obligation
• that is enforceable by law

Question 3

Elements of a Contract

Answer 3

• offer
• acceptance
• consideration
• intention to be bound
• capacity
• reality of consent
• legality

Question 4

Offer

Answer 4

• needs to promise to do something, for something
• can be express (written or verbal) or implied
• intended to lead to a binding obligation
• time dependency
• offer can be revoked
• communicated

Question 5

Revocation of offers

Answer 5

• withdraw before acceptance
• scheduled revocation (“good until…”)
• offer revoked b counter-offer

Question 6

quote

Answer 6

an offer to do the job for a certain price

- quoting person is bound by the offer

Question 7

Consideration (contracts)

Answer 7

• something FOR something
• does not have to be monetary
• is the consideration fair?

Question 8

Reality of Consent (contracts)

Answer 8

• Mistake
• Misrepresentation
• Duress

Question 9

Interpretation (contracts)

Answer 9

• implied vs. expressed
• correspondence
• language
• exclusion

Question 10

Discharge (contract)

Answer 10

• performance
• agreement
• frustration
• operation of law
• breach of contract

Question 11

procurement

Answer 11

the framework within which construction is brought about, acquired or obtained

Question 12

contract administration

Answer 12

handling of business relations between parties to the contract

Question 13

Tenders

Answer 13

• responsive
• responsible
• award metric

Question 14

Responsive (tender)

Answer 14

all terms in solicitation met satisfactorily

• forms filled out correctly
• authorised signatories
• tender offer displayed as required
• submitted as directedon time at correct locatio

Question 15

Responsible (tender)

Answer 15

meets the requirements to submit the offer

• prequalified, if required
• registered with appropriate governmental agency
• tender offer contains required financial instruments/securities
• tenderer is not a falon

Question 16

Award Metric (tender)

Answer 16

formula by which the owner will determine the successful offerer

• lowest price
• best qualified
• best proposal at stipulated price
• best value

Question 17

Rules of Contract Administration

Answer 17

1. Read the Contract
2. Do what the contract tells you to do
3. Do not do what the contract tells you not to do

Question 18

Delivery Methods

Answer 18

• Negotiated
• Design-bid-build
• Design-build
• Project Manager Agent
• PPP
• Alliances
• Early Contractor Investment