Course Description

Course CodeCourse NameCreditsHours
4236090 Contract Theory & Application 3.0 3
Description I. Basics for Contract 1、Nature : Classification and formation (Offer、Acceptance & consideration) 2、Reality of the contract : Did the minds really meet? 3、Discharge、Damage & Remedies II. Economic Theory of Contract 1、Trade vs. Contract 2、Bargain theory vs. Economic theory 3、Economic theory of contract Perfect complete contract & contractual Incompleteness Private information & precontractual opportunism Post contractual opportunism Performance & Expectation Damages Reliance Risk、Transaction Cost & Contract Risk shearing and Incentive contracts Remedies III. Construction contracting 1、Construction contract types 2、Efficiency、Performance and risk allocation of contract types 3、Cost estimating and Bidding 4、Subsuface Problems : predictable uncertainty differing site conditions