An owner requires that the contractor secure a _____ so he can be guaranteed the contractor will perform work in accordance with the contract., bid bond, security bond, payment and performance bond, permit, An action for breach of a written contract must be brought within _____ years, according to the Statute of Limitations., 3, 7, 4, 5, A (an) ________ is a hidden defect in an article sold., minor defect, latent defect, performance defect, unwarranted defect, A signed contract is in force.: The contractor is 21 days past substantial completion as is defined in the contract./ The liquidated damages clause in the contract specifies $100 per day for every day the contractor is late in reaching substantial completion. /  The contractor is 21 days past substantial completion as is defined in the contract.the contractor is allowed 12 days past the date of substantial completion without a penalty.  The liquidated damages clause in the contract specifies $100 per day for every day the contractor is late in reaching substantial completion.  Because of a change and differing conditions as specified in the contract, the contractor is allowed 12 days past the date of substantial completion without a penalty. The contractor will owe a liquidated damage payment of ________. The contractor will owe a liquidated damage payment of ________., 900, 2,100, 1,200, 1,000, A contractor is generally due final payment on a project ______., after the contract retainage holding period, when the final inspection is approvedby the inspector or architect, when the owner accepts the job, when the job is substantially completed, The ways to eliminate the opportunityfor bid shopping is/are ______., bid listing of subcontractors, bonds, bid depositories, a and b are correct, The Florida Statute of Frauds requires certain contracts dealing with ______ be in writing., a contract that cannot be performedwithin one year, all of the above, a lease longer than 1 year, contract for the sale of real property, A clause to provide a method of adjusting the contract price and schedule for unintentional changes is a ______ clause., provisional payment, constructive changes, contingent payment clause, final payment clause, Which of the following is NOT required under Florida law for a contract?, Whenever a contractor guarantees toanswer for the debt of another, the contractmust be in writing., The contract for sale of real property must be in writing., The sale of goods to a contractor costing $400 is required to be in writing., A contract must be in writing if it will take 14 months to accomplish., When an owner contracts directly with several contractors to complete a construction project, the structure of the project is known as ______., Prime owner, Multiple prime contracts, Linear construction, A single contract system, All but which of the following is an advantageof a turnkey or design-build contract?, Cost savings, Clear line of responsibility, Shorter overall project schedule, Includes design and building, Which of the following is required to be in writing according to Florida’s Statute of Frauds?, The purchase of $700 of equipment, A construction project to be completed within 11 months, The sale of 40 cubic yards of fill at $1.75 per cubic yard, A lease contract for 11 months, The contractor signs a written contract or is instructed to begin the work. This is ______., An acceptance, An offer, Sufficient consideration, A mirror image of the consideration, Which of the following is not an element of a contract?, acceptance, consideration, negotiation, offer, refer construction inc.signed a contract with a Florida corporation (owner) to construct an office building. there was a liquidated damage clause in the contract between the companies part of a subcontract agreement used by the construction company and subcontractors a mayor delay was forced upon by one of the subcontractors, because of this liquidated damages were assessed tothe construction company by the owner. Which of the following is a true statement concerning this situation?, The owner is responsible and must share the burden., All subcontractors must equally sharethe cost of the liquidated damages., The subcontractor was not liable forthe liquidated damages., The subcontractor causing the delay must pay all liquidated damages assessedto the construction company., A contract has been signed by all the parties. The contractor is liable for liquidated damages in the amount of $500 per day for each day after the required date for substantialcompletion that the work is not substantially completed as determined by the architect. The contract called for the job to be substantiallycompleted on June 11. The contractor wasgranted a six day extension of contract time by the architect because of an unusual delay in the delivery of material. The workwas completed on June 28. What is the amount of liquidated damages that the contractor is liable for?, $5,000, $5,500, $4,500, $4,000, The plumbing subcontractor dies before the plumbing of a residential project can be finished. The contract amount remaining on the plumbing contract was $1,295.00. The architect will allow an extension of eight (8) days for this occurrence. The new plumber will complete the job for $1,950.00, but cannot start the work for two weeks, which will put substantial completion of the project eleven (11) daysafter the original contract date requirement. The contract calls for liquidated damages in the amount of $40.00 per day for each day afterthe required date for substantial completion. The contractor has retained $475.00 from payments already made to the original plumbing contractor. The least additional cost to the contractor for this remaining work will be ______. (Consider ONLY the information given above), $300.00, $265.00, $230.00, $165.00, The breach of contract may not be an exclusive remedy. There are other legal remedies, including but not limited to ______., open account, all of the above, fraud, equitable lien, A subcontractor did not receive his final draw from Rofer Construction Inc, due to asix-month term in jail. After his release he was in an automobile accident and had to go thru rehabilitation for fourteen months. He was informed he would have ______ year(s) from the date he left the job to recover hisfinal draw from Rofer Construction Company., 5, 2, 1, 0, A (an) ______ provision protects thecontractor by requiring the owner to pay the additional cost caused unforeseen conditions:, Default, Unexposed site conditions, Unseen site conditions, Differing site conditions, A ______ is a defect which if not obviousfrom a visual inspection., Latent defect, Hidden defect, Concealed defect, Quantum merit, 22. An entire contract includes ______., Plans and specifications, Documents and specifications, All of the above, Plans and agreements

Chapter 8 – CONSTRUCTION CONTRACTS & LIABILITY

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