Assignment - 1: Professional Practices, Ethics and Building Bye-Laws

PROFESSIONAL PRACTICES, ETHICS AND BUILDING BYE-LAWS
ASSIGNMENT – 1
NAME : ARUN KUMAR A
REGISTER NO. : 71772111110
CLASS : CIVIL – A
SUB. NAME : PROFESSIONAL PRACTICES, ETHICS AND BUILDING BYE-

LAWS
SUB. CODE : 18CHS501
ASSIGNMENT : 1
DATE : 19/09/2023
CONTRACT
A contract is an agreement that specifies certain legally
enforceable rights and obligations pertaining to two or more
mutually agreeing parties. A contract typically involves the
transfer of goods, services, money, or a promise to transfer
any of those at a future date, and the activities and intentions
of the parties entering into a contract may be referred to
as contracting.
CONTRACT LAW
Contract law is the legal body that encompasses both
the origination, enforcement and ultimate enactment of all
legal contracts or agreements. All those who engage in
business transactions, at some point or another, engage in
contract law. Companies and consumers alike use contracts in
their everyday actions.
LAND CONTRACT
A land contract, (also known as contract for
deed or agreement for deed), is a contract between the
buyer and seller of real property in which the seller provides
the buyer financing in the purchase, and the buyer repays the
resulting loan in installments. Under a land contract, the
seller retains the legal title to the property but permits the
buyer to take possession of it for most purposes other than
that of legal ownership. The sale price is typically paid in
periodic installments, often with a balloon payment at the
end to make the timelength of payments shorter than in the
corresponding fully amortized loan (a loan without a final
balloon payment). When the full purchase price has been
paid including any interest, the seller is obligated
to convey (to the buyer) legal title to the property. An
initial down payment from the buyer to the seller is usually
also required.
The legal status of land contracts varies between
jurisdictions.
CONSTRUCTION CONTRACT
What Is a Construction Contract Agreement?
A construction contract agreement is a document
that sets the scope and terms of work for a construction
project. It is an agreement between the contractor doing
the construction and the person or company who hires
them to do the work.
The agreement should contain several sections of
clauses defining the scope, terms, and conditions of the
project, including:
 What work will be done
 When it will start and be completed by
 Which parties will participate in the construction
process
 The cost of labor and materials
 How the parties will communicate
 Procedures for changing the scope of work or other
parts of the agreement
 How disputes will be resolved
 How a Construction Contract Agreements Works
Most construction companies or contractors will have a
template they use as the basis of their construction contract.
This template will outline their standard operating
procedures, rates, and other conditions.
LABOUR CONTRACT
Labour contract means a worker who shall be deemed
to be employed in or in connection with the work of an
establishment when he is hired in or in connection with such
work by or through a contractor, with or without the
knowledge of the principal employer and includes inter-State
migrant worker but does not include an employee (other
than part time employee) who is regularly employed by the
contractor for any activity of his establishment and his
employment is governed by mutually accepted standards of
the conditions of employment (including engagement on
permanent basis), and gets periodical increment in the pay,
social security coverage and other welfare benefits in
accordance with the law for the time being in force in such
employment.
CONSTRUCTION LAW
Construction law is a branch of law that oversees the
lawful aspects of construction undertakings. It contains
numerous issues, including agreements, access, safety rules,
zoning laws, and conflicts that may arise during construction.
In addition, the construction industry is a substantial
contributor to the economy, and with the rising number of
construction tasks, the significance of construction law has
also risen. And since the construction industry is also highly
controlled, compliance with relevant laws and regulations is
crucial to guarantee a seamless and successful project.
THE ROLE OF CONTRACTS IN CONSTRUCTION LAW
 One of the most important topics of construction law is contract
law. Every construction project is built on contracts specifying the
work's parameters, delivery dates, and payment terms. The
property owner and the contractor in charge of the construction
work normally negotiate agreements in construction law. And to
make sure that all parties are aware of their rights and obligations,
contracts must be properly designed with exact language and
thorough details.
 In addition, contracts are the primary means used in the
construction industry to specify the duties and responsibilities of
parties engaged in a project. Construction contracts are intricate
legal documents that require careful drafting, exact terminology,
and particular requirements. A well-written contract helps avoid
disagreements and miscommunications, but a poorly written
contract may result in expensive litigation and delays.
 The scope of work, project schedule, fee structures, change
order policies, warranties, and dispute resolution procedures are
crucial components of a construction contract. The project
timetable establishes the timeframes for finishing the job,
whereas the scope of work specifies the exact work to be done.
Payment schedules specify the terms of payment, such as the sum
to be paid and the frequency of installments.
 Construction contracts must also include change order policies.
Change orders are requests to alter the scope of work or the
schedule for a project. They can be made for various reasons,
including design modifications, unanticipated site conditions, or
owner requirements. Making adjustments effectively and fairly can
be ensured with a well-written change order procedure.
 Another essential element of construction contracts is warranting.
A warranty guarantees that the work will be free of flaws and that
the products will adhere to a set of criteria. Both express and
implicit warranties can cover different facets of the construction
project.

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PROFESSIONAL PRACTICES, ETHICS AND BUILDING BYE-LAWS

NAME : ARUN KUMAR A

REGISTER NO. : 71772111110

SUB. NAME : PROFESSIONAL PRACTICES, ETHICS AND BUILDING BYE-

SUB. CODE : 18CHS501

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