In our previous post, we began looking at a recent federal case involving an engineering, procurement and construction contract for a project in Florida. As we noted, EPC contracts are commonly used in construction projects in the power sector, but also in other sectors. Whenever they are used, it is important for all parties to work with experienced legal counsel to ensure their interests are represented in the final agreement and that their rights are protected if the contact is breached in the course of the progression of the project.
One of the potentially important tools used in the private power sector is the engineering, procurement and construction (EPC) contract. These contracts are so important in projects where they are used because so much of the project rides on them. Under an EPC contract, a contractor is legally obligated to produce a power facility, complete and entire, at a guaranteed price by a specific date and according to specific specifications.
Some landlords operate on oral leases or agreements with their tenants. While there is technically nothing illegal or "wrong" about this, you should be aware of the risks associated with it. As a landlord, having a written contract is very important if a dispute arises between you and a tenant. Here are some of the major reasons a written agreement helps to settle disputes:
Picking up where we left off last time, one important point to make about disclosures in real estate sales is that sellers have the option to either provide information concerning their actual knowledge of the characteristics of a property, or to make no representation regarding certain aspects of the property. If the seller chooses to make no representations for one or multiple items, the buyer does not have the ability to hold the seller accountable for issues that arise on those issues after the agreement is made.
In previous posts, we've been looking at the topic of disclosure in real estate purchases. As we noted last time, sellers of residential property in North Carolina have a duty to make disclosures by filling out the proper disclosure paperwork as part of the sale.
In our last post, we mentioned the importance of obtaining as much information as possible before entering into a real estate purchase agreement. Most of the time, home-buyers can do so by working with reputable real estate brokers and obtaining a professional inspection of the home to determine its condition. In some cases, though, defects may be overlooked.
Buying a home is a big decision, whether it’s your first time or fifteenth time. Each buyer has their own process for approaching home-buying, both on an emotional and a practical level. There are certain things that should always happen, though. Among them are thoroughly inspecting all prospective purchases for defects and necessary repairs.
Anybody who has worked in the field of construction knows that disputes are common. Part of the reason for this is that there are many variables in construction projects, and often many parties are involved. Coordinating all construction activities so that things go according to a predetermined plan, ensuring that everybody is on the same boat as the project moves forward, and addressing issues which inevitably arise in the course of the project can be a real challenge.
If you are like many homeowners across North Carolina, you are looking for a housing upgrade. Typically, this would involve putting your home on the market and looking to buy a new one. However, we are in a very tricky housing market with very low supply in many areas. This combined with a high demand leads to skyrocketing house prices and bidding wars, which many buyers prefer to avoid.
When it comes to completing work on your home, the only things that limit your options are the laws, your imagination and the money in your bank account. If you have the funds, the ideas and the permission, you can hire people to complete just about any demolition or construction job.