The Maximum Price the Client Expects to Pay a Contractor

question 49

Multiple Choice

The maximum price the client expects to pay a contractor regardless of cost overruns in a project best defines

• A)target price.
• B)celling price.
• C)maximum price.
• D)nonnegotiable price.

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Definitions:

Real Estate Sales Agreement

A legally binding contract between a buyer and a seller outlining the terms and conditions of the sale of real property.

Legal Description

A precise way of describing a piece of land in legal documents.

Contingent

Dependent on certain conditions or events which must occur before an agreement or commitment is fulfilled.

Temporary Insurance

Short-term insurance coverage provided to an individual or entity until a permanent insurance policy is issued.