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In certain contracts, it may be unclear if non-fulfilment of a contingent condition has occurred where there is a subjective requirement in the contract, such as whether one party has achieved "satisfactory finance." If the contingent condition is a subjective fact, parties must act "honestly" or genuinely believe the condition to be true. [74]
Australian Construction Contracts govern how the parties to a construction contract behave and how the project manager and the contract manager administer the relationship between the parties. [1] There are several popular standard forms of construction contracts that are currently used in Australia .
A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions ...
In 1995, the Queensland Government called for expressions of interest to build the Airport railway line to Brisbane Airport. [1] In May 1996, Airtrain Citylink was named as the preferred proponent, however it would not be until 1999, that an agreement between the government and consortium to build the line was signed.
If contractual parties owe each other existing contractual obligations but a third party offers a promise contingent upon performance of the contract, that promise has sufficient consideration. In the US, under the Uniform Commercial Code , modifications may be made free of the Common Law legal duty rule even without consideration provided that ...
BASF is a German multinational company and the largest chemical producer in the world. With a rich 6.79% dividend, this European industrial giant is a solid buy at current levels. BASF SE (OTC ...
Michigan's Dusty May exceeded expectations in his first year as head coach, leading the team to its first 20-win season in four years. (Photo by Aaron J. Thornton/Getty Images) (Aaron J. Thornton ...
Vancouver Canucks goalie Kevin Lankinen agreed to a five-year contract extension Friday with an average annual value of $4.5 million. After signing a one-year, $875,000 deal Sept. 21 as a free ...