This form is designed for use between Foundation Contractors and Property Owners and may be executed with either a cost plus or fixed fee payment arrangement. This contract addresses such matters as change orders, work site information, warranty and insurance. This form was specifically drafted to comply with the laws of the State of Kentucky.
Kentucky Foundation Contract for Contractor
Category:
State:
Kentucky
Control #:
KY-00462-3
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Under Kentucky law, a valid and enforceable contract must include the parties' obligations in sufficiently definite and certain terms. Opinion at 9 (citing Kovacs v.Whether an agreement is oral or written, all material or essential terms must be agreed to or the agreement is unenforceable.
If a person does not fulfill their part of the verbal contract, there may be grounds to suebut it will depend on the overall nature of the agreement and stipulations involved. If you believe another party violated your valid verbal contract, do not hesitate to get legal help you can trust.
There are four basic elements to a legally binding verbal or written contract: Offer: An offer must be made by one person. Acceptance: The terms of the offer must be accepted by the other party.Consideration: The agreement must involve an exchange of consideration, or something valuable, between the parties.
In order to cancel the transaction, the consumer must send the notice of cancellation form, or some other written statement indicating the intent to cancel the contract, to the creditor at the address stated on the notice. This notice need only state the consumer's intention to cancel the transaction.
Kentucky requires all electrical, HVAC, plumbing, and elevator contractors to have a permit before conducting any work. This is not optional. However, for a general contractor's license, the process is different. The measures you need to take depend on the county/city you plan on performing work in.
Another way to help prove a verbal agreement is by getting witnesses who were present when the agreement was made, to testify. In addition to having witnesses and written evidence, you can also prove a verbal agreement by the actions of the parties.
A contractor or subcontractor can abandon a contract upon breach by the owner or general contractor, but cannot terminate the contract.Termination for convenience allows the owner/general contractor to stop the work for just about any reason without having to pay for anticipated profit or unperformed work.
Verbal agreements between two parties are just as enforceable as a written agreement. Like written contracts, they just need to meet the requirements of a valid contract to be enforced in court. If the agreement meets those requirements, both verbal and written agreements are enforceable.
How much does it cost to file a mechanics lien in Kentucky? As of January 1, 2020, the cost to file a mechanics lien with a county recorder in Kentucky is $46 for the first 5 pages, and $3 for each page thereafter.