Hợp đồng & Thực hiệnCâu 879 / 1605
A 'progress payment' schedule in a construction contract is designed to:
a.Pay the contractor in installments as defined portions of the work are completed
b.Delay all payment until years after completion
c.Require the owner to pay the entire price before work begins
d.Eliminate the need for a written contract
Giải thích
A progress payment schedule provides for the contractor to be paid in installments as the work reaches defined milestones or percentages of completion, aligning payment with performance and helping fund ongoing costs. It avoids both full prepayment, which would over-expose the owner, and long-deferred payment, which would over-expose the contractor. It is a payment mechanism within the contract, not a substitute for having a written contract.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- 'Promissory estoppel' may allow enforcement of a promise, even without traditional consideration, when:
- A general contractor uses a subcontractor's bid to prepare and win the prime contract, reasonably relying on that bid. If the sub then tries to withdraw the bid, the general may argue the sub is bound under:
- A 'retention' (retainage) provision in a construction contract generally allows the owner to:
- A contract that is unfair and one-sided to the point of shocking the conscience, formed under grossly unequal bargaining power, may be held unenforceable as:
- A 'scope of work' provision in a construction contract is important primarily because it:
- When a contract's documents conflict, an 'order of precedence' clause is used to:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)