Radford's Cyclopedia of Construction, Carpentry, Building and Architecture, Vol. 12 of 12: A General Reference Work on Modern Building Materials and ... in Wood, Stone, Brick, Steel, and Con - Softcover

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Excerpt from Radford's Cyclopedia of Construction, Carpentry, Building and Architecture, Vol. 12 of 12: A General Reference Work on Modern Building Materials and Methods and Their Practical Application to All Forms of Construction in Wood, Stone, Brick, Steel, and Concrete

Contract Defined. A construction contract is an agreement between parties to pay a cer tain compensation for certain valuable posses sions or services, and may be for labor, material, money, or any valuable consideration. It may be in writing or simply a verbal understanding; but so long as it is an arrangement between the parties interested, and is understood by both or all of them to be such, it is a contract, and they are both or all equally bound by it.

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