DBIA - Contracts and Risk Management
QUESTIONS AND VERIFIED CORRECT
ANSWERS GRADED A+ LATEST 100%
GUARANTEED PASS
Requirements for a valid contract - CORRECT ANSWER--Offer
-Acceptance
-Consideration
-Capacity
-Authority
Trident v. Austin (2003) - CORRECT ANSWER--Austin told Trident that they would come back to
them and use them if they won.
-Austin did win, but did not go back to Trident
-Trident could've offered a backup to their $5.2M.
Promissory Estoppel and Detrimental Reliance - CORRECT ANSWER-an equitable doctrine that
prevents the withdrawal of a promise by a promisor if it will adversely affect a promisee who
has adjusted his or her position in justifiable reliance on the promise
Metroplexcore v. Parsons Transportation Group (2014) - CORRECT ANSWER-PTG made
repeated assurances that MC would be part of the team (promises). Even the owner expected
MC to be on the team. - Example of Promissory Estoppel
, Expectation Damages - CORRECT ANSWER-Award what was reasonably expected from the
contract
Rescission Damages - CORRECT ANSWER-When expectation damages not available, award
what party would have had if contract had not existed
Specific Performance and Injunctive Relief - CORRECT ANSWER-If contract's subject is unique,
a court may order
that the breaching party perform its obligations under that contract (specific performance) or
stop doing something (injunction)
Quantum Meruit - CORRECT ANSWER-Award of a reasonable sum of money (i.e., "what the
claimant deserved")
Key Principles of Contract Damages - CORRECT ANSWER-Damages cannot be speculative, and
must be proven to a "reasonable" degree of certainty.
Consequential Damages Section 10.5.1, DBIA Document 535 - CORRECT ANSWER-"Not
withstanding anything herein to the contrary (except as set forth in section 10.5.2 below),
neither Design-Builder nor Owner shall be liable to the other for any consequential losses or
damages, whether arising in contract, warranty, tort (including negligence), strict liability or
otherwise, including but not limited to losses of use, profits, business, reputation or
financing."
Betterment Theory - CORRECT ANSWER-Owner cannot be put in a better position than if the
breach hadn't occurred.
Liability Issues - CORRECT ANSWER--Defective plans and specs (Spearin)
-Constructive changes
-Differing site conditions
QUESTIONS AND VERIFIED CORRECT
ANSWERS GRADED A+ LATEST 100%
GUARANTEED PASS
Requirements for a valid contract - CORRECT ANSWER--Offer
-Acceptance
-Consideration
-Capacity
-Authority
Trident v. Austin (2003) - CORRECT ANSWER--Austin told Trident that they would come back to
them and use them if they won.
-Austin did win, but did not go back to Trident
-Trident could've offered a backup to their $5.2M.
Promissory Estoppel and Detrimental Reliance - CORRECT ANSWER-an equitable doctrine that
prevents the withdrawal of a promise by a promisor if it will adversely affect a promisee who
has adjusted his or her position in justifiable reliance on the promise
Metroplexcore v. Parsons Transportation Group (2014) - CORRECT ANSWER-PTG made
repeated assurances that MC would be part of the team (promises). Even the owner expected
MC to be on the team. - Example of Promissory Estoppel
, Expectation Damages - CORRECT ANSWER-Award what was reasonably expected from the
contract
Rescission Damages - CORRECT ANSWER-When expectation damages not available, award
what party would have had if contract had not existed
Specific Performance and Injunctive Relief - CORRECT ANSWER-If contract's subject is unique,
a court may order
that the breaching party perform its obligations under that contract (specific performance) or
stop doing something (injunction)
Quantum Meruit - CORRECT ANSWER-Award of a reasonable sum of money (i.e., "what the
claimant deserved")
Key Principles of Contract Damages - CORRECT ANSWER-Damages cannot be speculative, and
must be proven to a "reasonable" degree of certainty.
Consequential Damages Section 10.5.1, DBIA Document 535 - CORRECT ANSWER-"Not
withstanding anything herein to the contrary (except as set forth in section 10.5.2 below),
neither Design-Builder nor Owner shall be liable to the other for any consequential losses or
damages, whether arising in contract, warranty, tort (including negligence), strict liability or
otherwise, including but not limited to losses of use, profits, business, reputation or
financing."
Betterment Theory - CORRECT ANSWER-Owner cannot be put in a better position than if the
breach hadn't occurred.
Liability Issues - CORRECT ANSWER--Defective plans and specs (Spearin)
-Constructive changes
-Differing site conditions
