6. Contract Types and Law
6.1 Contracts
6.1.1 The Requirements of a Valid Contract
6.1.2 Agreement
6.1.3 Competent Parties
6.1.4 Consideration
6.1.5 Lawful Purpose
6.1.6 Form
6.2 Defects in Contracts
6.2.1 Reality of Agreement
6.2.2 Legality of Object
6.2.3 Oral Form
6.2.4 The Rights of a Third Party
6.3 Other Aspects of Contracts
6.3.1 The Formation of Contracts
6.3.2 Legal Status
6.3.3 Formality
6.3.4 Contracting Parties
6.3.5 Stages of Completion
6.4 Types of Contract
6.4.1 Lump Sum Contracts
6.4.2 Schedule of Rates Contracts
6.4.3 Cost and Percentage Contracts
6.4.4 Cost and Fixed Fee Contracts
6.4.5 Target Cost Contracts
6.4.6 Guaranteed Maximum Cost Contracts
6.4.7 Management Contracts
6.4.8 Sub-contracts
6.5 Contract Documents
6.5.1 General Conditions of Contract
6.5.2 Special Conditions of Contract
6.5.3 Drawings
6.5.4 Specification
6.5.5. Contract Price Schedule
6.5.6 Form of Agreement
6.6 Discharge of Contracts
6.6.1 Satisfactory Performance
6.6.2 Substantial Performance
6.6.3 Impossibility of Performance
6.6.4 Prevention of Performance
6.6.5 Waiver
6.6.6 Agreement
6.6.7 Tender of Performance
6.6.8 Breach of Contract
6.6.9 Anticipatory Breach of Contract
6.6.10 Alteration
6.6.11 Bankruptcy
6.7 Remedies for Breach of Contract
6.7.1 Damages
6.7.2 Specific Performance
6.7.3 Injunction
6.7.4 Cancellation
6.7.5 Rectification
6.8 Arbitration
6.8.1 Advantages and Disadvantages
6.8.2 The Legal Requirements of Arbitration
Page last modified 25 June 2002.