Liquidated Damages and Extensions of Time
In Construction Contracts
Chapter One
Introduction
1.1 General overview
There is an old saying that time is money. It certainly is in the world of business
and no more so than when a construction contract overruns its allotted
time for completion. When that happens, both parties can expect to suffer.
This book is essentially about how contracts deal with the financial consequences
of late completion and how, within the scope of the law and the
scope of the contractual provisions, the parties endeavour to protect their
respective interests.
To those not deeply involved with such matters it might seem extraordinary
that it requires a book of some magnitude to explore the full complexities
of the subject. To explain this conundrum this first section of the
book provides a general overview of the law relating to liquidated damages
and extensions of time. This review was, for the most part, the opening
chapter of previous editions of the book.
Breaches of contract
Every breach of contract ca ... read full excerpt from Liquidated Damages and Extensions of Time: In Construction Contracts ebook
