Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Memorandum of agreement

Law; Contracts

Draught agreement that may establish the scope of association and mutual responsibilities. See also memorandum of understanding.

Mechanic's lien

Law; Contracts

Claim on the improved property by the contractor, subcontractors, laborers, and material suppliers for the monies owed to them. In general, a mechanic's lien takes precedence over any mortgage on ...

Missing specifications

Law; Contracts

Situation that allows a vendor to insert own specifications where a buyer fails to supply them as required.

Mobilisation

Law; Contracts

Activation of a contractor's physical and manpower resources for transfer to a construction site until the completion of the contract.

Milestone billing

Law; Contracts

Contact payments scheduled according to completion of specified stages.

Written notice issued by the contractee or the owner of a project (or his or her agent) to notify concerned parties that no work has been performed at the project site for a certain period (say, 60 ...