Describe THREE (3) ways in which a project may be closed or terminated
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Describe THREE (3) ways in which a project may be closed or terminated
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- Jenny and Chad, a couple of college seniors, send out birth announcements to their friends, including a local real estate agent named Mort. In the announcement, the couple informs everyone that they're looking to move out of student housing and into a starter home right after graduation. Mort gets right on the task of finding homes that fit their needs. Once he has a few properties on his list, Mort calls the couple and they schedule some showings. What form of agency, if any, exists between the couple and Mort? Actions of the parties have led to the creation of express agency. An explicit request for representation was made between the parties. Actions of the parties have led to the creation of implied agency. No agency relationship exists at this point between the parties.Explain all options.3. Why might a sponsor find it economically convenient to refinance loans once the construction phase for the project in question has been successfully completed? a) to cut down on the length of the project at hand so as to move on to new ones. b) to reduce the severity of certain covenants. c) to modify the characteristics of the underlying project. d) to modify the loan agreement.
- In this unit, we have been examining under what grounds a contract may be rescinded or declared void and voidable. This assignment asks you to review a hypothetical business situation and conduct an analysis. Consider the following hypothetical: Ed contracted with Becky to build a house.Immediately prior to that meeting, Becky was so nervous that she drank an entire bottleof champagne and she does not remember all of the details of the meeting. Shortlybefore the closing, Ed met with Becky, accused her of fraud and threated to prevent thecontract from going to closing. Ed’s associate, a former stunt double for Dwayne “theRock” Johnson, stood outside the door for two hours to prevent Becky from leaving. Edgave Becky the choice of signing a new contract promising him more money for thebuild or going to court. Becky signed the agreement but now has sought legal advice.• Imagine that you are Becky’s attorney. What would you tell her about whethershe can rescind the contract? (Big Hint:…What is a change order to a construction contract? What are five causes of change orders on a typical construction project? Why does using owner-furnished equipment on a project sometimes result in change orders? What factors should a project manager consider when analyzing the impact of a proposed change order on a construction project? What recourse does a project manager have if the owner denies a change order proposal? What is the difference between a change order and a construction change directive? What action does a project manager take upon receipt of a construction change directive?For each of the questions below, answer with the following types of contracts: UP = Unit price CP = Cost-plus LS = Lump sum Which type of contract provides the [ Choose ] owner with the best estimate of the construction cost at the beginning of the project? Which type of contract would require [ Choose ] the project to be well defined even though exact quantities need not to be known? Which type of contract is appropriate [ Choose ] when the actual costs of a project and scope of work are difficult to estimate with accuracy? For which type of contract is it likely [ Choose ] that construction cost is not optimized? Which type of contract allows the [ Choose ] work to start without detailed plans? >
- Apex Hospital is in need of major renovation of its electrical system. One of Apex’s governing board members, Willy Watt, is an electrical contractor who is a partial owner of an electrical restoration company. He would like to bid on the project. May he? If he does, what must he do? What must the governing board do? Is there a problem with Mr. Watt’s fiduciary duty? Is there a problem with the governing board’s fiduciary duty? Recommend the best steps that Apex Hospital should follow.How would you explain the concept of risk management, including the procedures of detecting risks, determining the severity of risks, and reducing risks?Mary Lou is chair of the board of directors of Evening Shade Properties, Inc. Evening Shade had its annual shareholder meeting two months ago, but a new merger opportunity has come to Mary Lou's attention, and she wants to call a special meeting of the shareholders to discuss it. To successfully call a special meeting of the shareholders, Evening Shade must: do nothing; shareholder meetings are limited to one annually. notify its shareholders of the date, time, and place of the meeting at least ten days, but not more than sixty days, before the meeting date and include a statement of the purpose of the meeting. notify its shareholders by certified mail at least thirty days before the meeting. notify all members of the board of directors of the date, time, and place of the meeting at least ten days, but not more than sixty days, before the meeting date and include a statement of the purpose of the meeting.
- Ben London owns and operates Fantastic Footage, a film-editing company in Los Angeles that does contract work mostly for production companies in Hollywood. Not long ago, a local landscaping business completed nearly $8,500 worth of work around London's offices. While the initial bid seemed a little high for the amount of work that was actually done, there is no question that the work completed was of high quality, and London finally feels comfortable inviting potential clients to meet him at his office to discuss possible deals. However, because of an apparent oversight, the landscaping contractor never submitted a bill. It's been more than 15 months since the completion of the project, and London has come to conclude that the contractor somehow lost track of the project. He is thinking about calling the company to ask for a final invoice so that he can settle up, but business has been really slow over the last year or so, and it hasn't been easy to pay all of the bills as it is.…Ben London owns and operates Fantastic Footage, a film-editing company in Los Angeles that does contract work mostly for production companies in Hollywood. Not long ago, a local landscaping business completed nearly $8,500 worth of work around London's offices. While the initial bid seemed a little high for the amount of work that was actually done, there is no question that the work completed was of high quality, and London finally feels comfortable inviting potential clients to meet him at his office to discuss possible deals. However, because of an apparent oversight, the landscaping contractor never submitted a bill. It's been more than 15 months since the completion of the project, and London has come to conclude that the contractor somehow lost track of the project. He is thinking about calling the company to ask for a final invoice so that he can settle up, but business has been really slow over the last year or so, and it hasn't been easy to pay all of the bills as it is.…Give an example of a contract that is illegal in Florida but legal in some other states in the United States.