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Name and discuss 3 types of security that might be given under a building or construction contract. In relation to bank guarantees, what does the
- Name and discuss 3 types of security that might be given under a building or construction contract.
- In relation to bank guarantees, what does the principle of autonomy say?
- What is the PPSR and why do we use it?
- Sally decides to open an ice cream shop. She incorporates a company, finds premises, signs a lease, and her company engages Charles to do the building work necessary to fit it out. This includes changing the windows to bi-fold doors, building in cabinetry and booths, installing a kitchen, and also sourcing and supplying loose furniture such as tables and chairs for use outside.
- Construction was delayed so that instead of opening the shop in November like Sally hoped, the shop is not ready until late June. None of the delays are Charles' fault - they all relate to government planning issues. Charles does the work and issues his invoice, but Sally refuses to pay it. In fact she has no money to pay it because it is cold, wet and dark and no one wants to buy her ice cream?
- Charles asks you for advice about whether he can just go back into the premises and rip out his fit out. What do you tell him?
- Would your response be different if Sally's company had gone into liquidation?
- If Charles had come to you for advice before he entered into the contract with Sally's company, what would you have told him about protecting his interests?
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