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Pending Home Sales Are Falling Through as Buyers Regain Bargaining Power

Pro Builder

Pending Home Sales Are Falling Through as Buyers Regain Bargaining Power. The share of contract cancellations is on the rise as buyers continue to grapple with affordability challenges in the nation’s hottest housing markets, Zillow reports. Fri, 09/09/2022 - 10:30. The share of pending home sales that fell through rose by 0.8

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Ohio Court Reforms Construction Contract to Correct “Manifest Absurdity” in Termination for Convenience Term

Constructlaw

Hanuman Chalisa LLC (owner) contracted BoMar Contracting, Inc. The contract consisted of the AIA A101-2007 and AIA A201-2007. The parties disputed whether the owner terminated the contract “for cause” or “for convenience.”. Courts are permitted to interpret a contract so as to not create a “ manifest absurdity.”.

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GA Court of Appeals Enforces Contract Clause, Excluding Liability for Incidental Damages Where Specific Performance Is Ordered

Constructlaw

Days later, 360 filed suit for specific performance; breach of contract resulting in at least $1 million in damages, including damage to its reputation with investors; and undue enrichment for the rezoning, approximately $1.5 DonRob counterclaimed for breach of contract. million in Site improvements and other work.

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Not So Severable After All: Third Circuit Lets Courts Determine Arbitration Agreement Existence When Underlying Contract’s Validity Is Challenged

Constructlaw

New Jersey Building Laborers Statewide Benefits Funds , [1] the Third Circuit held that the courts must decide questions of arbitrability in cases where a party challenges the validity of the underlying contract that contains the arbitration agreement — even when the putative arbitration agreement refers these questions to the arbitrators.

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Buyers Back on Top—Market Cooldown Boosts Negotiating Power

Pro Builder

A more balanced market is putting buyers back into the driver's seat, and those who can still afford home purchases are backing out of deals and capitalizing on their bargaining power. of all homes that went under contract that month. Around 63,000 home-purchase agreements were called off in July, a share equal to 16.1%

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Bargaining Room v. False Claims: 5 Tips for Negotiation of Construction Claims

Best Practices Construction Law

The issue raises an important question: What should a contractor do during negotiations to allow for some “bargaining room” so as to avoid any appearance of filing a false claim? A contractor must know the terms of the contract and the contract plans in great detail. Be prepared.

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Fraud as an Exception to the Economic Loss Doctrine: Changing Trends in Colorado and Tennessee

Constructlaw

But two recent state-court decisions evidence a change in that trend: Both held that the Economic Loss Doctrine bars fraud claims because parties to a commercial contract — often sophisticated and represented by counsel — allocate risk, prescribe damages, and rely on the terms of the bargain.