Essential Elements of a Valid Contract for Professional Services
- Course Number: B1051
- Credits: 4 hours
- Instructor: Ellen Huang, PE
- Price: $40
Course Outline
This course is designed to provide a comprehensive understanding of the essential elements of a valid contract, specifically tailored for professionals in the AEC industry. We will explore the crucial role of contracts in establishing agreements, defining project scopes, setting timelines and fees, and allocating risks and responsibilities. Besides the six essential elements of a valid contract - offer, acceptance, consideration, intention to create legal relations, legality and capacity, and certainty, the course content will delve into the foundational principles of contract law, the purpose of contracts for design professionals, and the importance of outlining the scope, time, and fee. Furthermore, it will provide insights into responsibilities assigned to each party and how risk is allocated based on control. It will emphasize the necessity of documenting the mutual understanding of the relationship and communication protocols between parties. It will underscore the need for meticulous attention to detail when drafting and negotiating agreements to prevent misunderstandings and facilitate conflict resolution of potential disputes. Whether you're an experienced professional or a beginner, this course is intended to equip you with the expertise to handle contracts proficiently.
At the end of this course, there will be a multiple-choice, open-book quiz designed to enhance your understanding of the course material.
Learning Objectives
At the conclusion of this course, the student will:
- Be able to comprehend the fundamentals of professional service contracts and their significance in establishing client relationships;
- Be able to identify and differentiate between the six essential elements of a valid contract;
- Be able to understand and negotiate the key elements of a contract such as project scope, time, and fees; and
- Be able to effectively allocate risks and responsibilities within a professional service contract.