This form is a New Home Construction Contract that complies with Montana disclosure laws. Many comprehensive terms are included for payments, subcontractors, inspections, scope of work, work site, warranty, insurance, and much more.
Montana New Home Construction Contract
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FAQ
In contract law the contract price is a material term. The contract price is the price for the goods or services to be received in the contract.
Breach of contract means that one party did not do what they promised to do in the agreement. A party who breaches a contract can be held legally responsible for damages. Most often, in construction contract cases, damages can include money for the party who suffered a loss or was injured by the breach.
ANSWER: Property owners can sue a builder/contractor for fraudulent or deceitful practices to collect damages suffered using one or more of the following theories of liability (this list is not exhaustive): 1. Breach of Contract.
In the case of construction contract, the contracting parties may include any term and condition in the contract in order to complete and fulfill the requirement of the construction works. Normally, the terms and conditions are about the rights and obligations of the contracting parties.
The five requirements for creating a valid contract are an offer, acceptance, consideration, competency and legal intent.
General Requirements are used as the clearinghouse for items that do not apply directly to construction, the cost of which are customarily spread out over the entire project. These costs are also referred to as project overhead. For estimating purposes, either term is acceptable.
Your general contractor should provide proof of licensing, bonding and insurance before a project starts, but it's better to have it in hand before you sign any contracts. It's important that contractors carry any licensing and/or certification required for the specific trade or skill they practice.
Standard construction contracts should have the following information and clauses: Name of contractor and contact information. Include the contractor's license number along with phone number, email address, and company address. Name of homeowner and contact information.
Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop Work Clause and Stop Payment Clause. Act of God Clause. Change Order Agreement. Warranty.