Procurement and Law Flashcards
What is Float in Project Management?
The amount of time that a task in a project network can be delayed without causing a delay to: subsequent tasks project completion date.
What is Procurement?
a fancy word for buying: to procure is to obtain
The Court System Structure
NZ Supreme Court –> Court of Appeal –> High Court –> District Court
Public Law
Criminal Law, Revenue and Taxation Law
Between you and Authorities
Can go to prison
Private Law
Contract Law, Law of tort (can’t interfere with someones “joy of living”)
Between individuals
Cannot go to prison
What is a contract?
Legally binding agreement existing between two or more parties to do or not do something.
Is every agreement a contract?
Is every contract an agreement?
No
Yes
What is a Covenant?
Type of contract (conditions tied to the use of land)
Elements of Contract
Offer –> Acceptance –> Consideration –> Intention to be bound –> Capacity –> Reality of Consent –> Legality
How can an offer be expressed? Can it be revoked?
Written, Verbal or Implied.
Can be revoked
What is a tender?
An invitation to bid for a project
What is a counter offer?
Negotation between parties, original offer cannot be accepted
Tag/ Not Tag Tender
Does / Does not have conditional agreement
Revocation of Offer
Withdraw Before Acceptance
What is a quote?
An offer to do the job for a certain price, quoting person bound by offer
