CONTRACT LAW

Contract Law



Contract Law

Introduction

The main purpose of this paper is to make an overview on the significance of common aw to the construction industry. The paper makes an analysis on the methods of alternative dispute resolution and the industrial tribunal process. The paper also makes an analysis on the roles and responsibilities of the main parties to construction contracts, and the contractual liabilities of the main parties to construction contracts.

Significance of Common law to the construction industry

There is very much importance of common law in the construction industry. Common law refers to rules inherent to human beings; their application does not require you to be written. It is the only standard that offers freedom to do and act at will, with the only limit and less damaging not affect the inherent right of another person (natural or legal). The common law is the law of capitalism. It is the law that generates economic development. Proof of this is its extensive use in all developed countries, the reason: proven effectiveness of private initiative and faithful performance of the parties. Work on common problems related to all construction enterprises, it is extremely important because many problems arise at the national level, and their solution is possible only through a common representation, united by common interests (Stanley, 1998). The adoption of three important laws for the construction industry: the law "On private entrepreneurship" and "On Licensing", "On Public Procurement" was accompanied by the participation of members of the Builders Association of the working group. The construction works involve the contracts in it, and the common law saves the construction parties from the breach of any contract. Common law helps the parties in the construction industry to perform in an authentic way, by minimizing the danger of fraud in it (Ava, 2002).

Compare the ...