Understand the risk of terminating a construction contract and why it is a last resort.
Sometimes your only option left is to terminate the construction contract on a project. Perhaps every chance at dispute resolution has failed. Maybe the material breaches by one party will never be resolved by remedies or damages recoverable under the contract. Or maybe subcontractor liens on the project have caused irreconcilable differences between the owner and general contractor. Whatever the reason prompting termination of a construction contract, there are important legal issues and considerations to keep in mind. Termination, after all, affects everyone on the project.This live webinar will address contract termination from the perspective of owners, developers, contractors and design professionals. First, we will discuss the risk of terminating a construction contract and why it is legally a last resort. Second, we will look at contract clauses and terms that specify termination rights and remedies. Finally, we will conclude the seminar by identifying the best way to terminate a construction contract, and we will provide you with some case examples to consider under circumstances familiar to all working in the construction industry.
Learning Objectives
- You will be able to define what it legally means to terminate a construction contract.
- You will be able to describe the benefits and consequences to terminating a con-struction contract.
- You will be able to discuss risks and remedies from contract termination.
- You will be able to explain the right and wrong way to terminate a construction contract.
Agenda
Termination - a Last Resort on the Project- Termination Risks and Remedies
- Standard and Popular Termination Terms
- Default and Material Breach
- Notice and Cure Opportunities
- Legal Defenses
- Termination Damages
- Contractor Wins
- Owner Wins
- Termination Ineffective
Speaker(s)
Richard G. (Rick) EricksonSnell & Wilmer L.L.P.
- Partner in the office of Snell & Wilmer, L.L.P.
- Practice emphasizes all aspects of construction law
- Conducts regular seminars and workshops on numerous topics relating to construction litigation and transactions
- Author of many publications related to construction law and commercial litigation
- Past chair, State Bar Executive Council for Construction Law; Affiliate Affairs Committee, Associated General Contractors; fellow, American Bar Foundation; Arizona Builders Alliance; Maricopa County Bar Association, Construction Law Section
- J.D. Degree, University of The Pacific; B.S. Degree, University of Arizona