Construction Cost Contract Plus With Gmp In Georgia
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To constitute a valid contract, there must be parties able to contract, a consideration moving to the contract, the assent of the parties to the terms of the contract, and a subject matter upon which the contract can operate.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors.
The rules of contract construction call on several different types of meaning. These include plain meaning, use meaning, subjective meaning, objective meaning, purpose, and belief and intent. The correct approach to contract interpretation differs ing to the facts of the case and the legal question at issue.
Offer: A clear proposal to make a deal. Acceptance: A definite agreement to the terms of the offer. Consideration: Something of value exchanged between the parties. Intention to Create Legal Relations: A mutual intention to form a legally binding agreement.
