Construction Contract Form Without Completion Date In Kings
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FAQ
The Basics of Open-Ended Contracts Open-ended contracts remain valid and enforceable until one or more parties take action to terminate them. Unlike agreements with set durations, these contracts operate based on the following factors: Type and purpose of the contract. Intentions of the parties at the time of signing.
Starting a contract without a clear end date raises critical questions about duration and termination rights. These agreements—often referred to as "indefinite" or "perpetual" contracts—remain active until specific events trigger their end.
Exchange of contracts can't take place unless the buyer and seller have agreed to a completion date.
Breach of contract happens when one party to a valid contract fails to fulfill their side of the agreement. If a party doesn't do what the contract says they must do, the other party can sue. You lend a friend $15,000.
The contract does not become open-ended and the contractor is still obliged to complete the works. Time being at large simply means that the completion date is not specified or calculable by reference to the contract and must therefore be determined with reference to what is reasonable in the circumstances.
Contract Completion Date is the date, determined by SCC on which the Project is to reach Substantial Completion. The Contract Completion Date will be determined based on the duration for the Project set by the Contract as adjusted by any Contract Modifications that extend or reduce the duration of the Project.
An indefinite employment contract, or permanent contract, is a type of employment contract that does not have a specific end date. Under an indefinite contract, an employee works for an employer until either party terminates the agreement.
Indefinite contracts do not have a fixed end date; instead, they remain in effect until terminated by one of the parties under specified conditions, known as “cause.” These conditions could include breach of contract, failure to meet performance standards, or mutual agreement to conclude the contract.
In contracts that are intended to last forever (perpetual contracts), there is a strong argument for a court to do this where there is no other way to end it, but less so where you have entered into a fixed term contract which includes other express termination rights.
