Contratos y EjecuciónPregunta 1617 de 1632
A commercial job is written as cost-plus with a guaranteed maximum price of $400,000. The contractor's reimbursable costs finish at $436,000. Who absorbs the difference, and what does the owner pay?
a.The owner absorbs it and pays $436,000, because cost-plus reimburses the costs actually incurred
b.The two split it evenly, so the owner pays $418,000 under the usual shared-savings arrangement
c.The contractor absorbs it and the owner pays $364,000, the reimbursable cost less the overrun
d.The contractor absorbs it and the owner pays $400,000, which is the ceiling the parties agreed
Explicación
A guaranteed maximum price reimburses cost up to a ceiling and stops there: everything above the ceiling is the contractor's, so the $36,000 overrun is the contractor's and the owner pays $400,000. That is what distinguishes a GMP from ordinary cost-plus, where the owner reimburses whatever the job actually consumes. It also distinguishes a GMP from a lump sum, because below the ceiling the owner is still paying real costs rather than a single agreed price.
Referencia Legal: CSLB, Law and Business Examination Study Guide (contract types and cost control)Practica las 1632 preguntas gratis — sin registro.
Own the complete CSLB Law & Business guide — PDF + EPUB, $24.99 →
Preguntas relacionadas de este tema
- In a T&M contract dispute, the single most important documentation supporting the contractor's invoices is usually:
- An owner and contractor dispute whether a certain task was included in the fixed price. The contract's clear, integrated scope of work does not list that task. Under general interpretation principles, the task is most likely:
- A key reason a contractor should ensure the person signing a contract has authority to bind the property is that:
- Overall, the single most effective way for a contractor to prevent and win contract disputes over scope, extras, and payment is to:
- A remodeler's printed contract for a single-family home carries an arbitration provision in the same 9-point type as the rest of the document, under the heading 'Dispute Resolution', with no separate space for the owner to initial. What does Bus. & Prof. Code §7191 make of it?
- A prime contractor's standard subcontract requires the subcontractor to indemnify the prime against every loss arising on the job, including a loss caused by the prime's own negligence alone. Under Civil Code §2782, that indemnity is:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California CSLB Contractor License Law & Business Exam · Cómo revisamos
Revisado por Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verificar)