Course Description

Course CodeCourse NameCreditsHours
4236090 Contract Theory & Application 3.0 3
Description I. Basics for Contract 1¡BNature : Classification and formation (Offer¡BAcceptance & consideration) 2¡BReality of the contract : Did the minds really meet? 3¡BDischarge¡BDamage & Remedies II. Economic Theory of Contract 1¡BTrade vs. Contract 2¡BBargain theory vs. Economic theory 3¡BEconomic theory of contract Perfect complete contract & contractual Incompleteness Private information & precontractual opportunism Post contractual opportunism Performance & Expectation Damages Reliance Risk¡BTransaction Cost & Contract Risk shearing and Incentive contracts Remedies III. Construction contracting 1¡BConstruction contract types 2¡BEfficiency¡BPerformance and risk allocation of contract types 3¡BCost estimating and Bidding 4¡BSubsuface Problems : predictable uncertainty differing site conditions