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Construction Project

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Submitted By harmeet734
Words 3459
Pages 14
Managing disputes in Contract

SL. No. Particulars Page No. 1. Introduction 3
2. Various types of risk in contract 3
3. Various factors that increase contract risk 4
5. Limitation of Liability 5
6. Risk Allocation in contracts 5
7. Importance of fair allocation of risks 6
8. Managing risk in contract 7
9. Unforeseeable physical conditions 8
10. Ways to avoid pitfalls 9
11. Dispute Resolution 9
12. Conclusion 10
13. References 11

Introduction
The contract can said to be a valid agreement between two parties which obliges each person to do or not to do a certain thing. Further the terms of the contract should be such that it is enforceable in law by the parties. The terms of the contract should not be void and must make sense for both the parties. The both party must clearly understand (i.e. meeting of the minds) the terms

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