209. Types of contract.

(ii)     Types of Contract

209.     Types of contract.

It is sometimes convenient to label building contracts either by reference to the manner by which the contractor's remuneration is arrived at or by reference to the nature of the contractor's obligations. Many modern contracts are hybrid and only the simplest warrant such descriptions, and then only because the contract does not itself provide for the consequences.

A 'lump sum' contract is one under which the contractor will receive on completion of the whole works payment of a single sum. If the contractor fails to complete the works he will not