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Contract Law for Project Managers

As projects grow larger in scope, Project Managers are asked to increase their understanding of concepts like Contract Management to ensure the project is successful. Complex projects, involving many suppliers and contractors, can quickly derail if enough attention isn’t paid to the details contained in a contract. The formation of contracts is a key point in a project when Project Managers must have strong foundations to ensure Procurement and Risk functions are considered.

How You Will Benefit

Our Contract Law training will provide an in-depth discussion of legal terminology and concepts that are important for Project Managers to know. Topics such as contract types, enforcement of performance requirements and the impact of a contracting mistake are aimed at helping to enhance Procurement and Risk Management skills. Project Managers may not negotiate contracts daily, but this course discusses fundamental elements of forming and administering contracts every professional needs to understand when the situation arises.

What You Will Learn

In this course you will learn foundational concepts for forming contracts including:

  • What constitutes a contract and key terms associated with contract development
  • Basic offer types which exist and how they might be accepted
  • Exceptions to typical contracting procedures, such as the "Mailbox Rule"
  • How consideration and capacity can play a role in contract administration
  • Risks associated with misrepresentation and mistakes made during contract formation

Who Should Attend

This course is intended for anyone looking for a deeper understanding of what contracts are and how they can impact the management of projects.

Format

Video-on-demand; includes 6-months digital access to all training materials.

Duration / PDU Value

This course is worth 2.5 PDU hours.

Outline

Introduction

  • Overview of Contract Formation

Key Terminology

  • What is a Contract?
  • Promises, Beneficiaries and Consideration
  • Contract Types

Overview of Offers

  • Definition of an Offer
  • Unilateral Contract Offers
  • General Offers

Accepting an Offer

  • Modes of Acceptance
  • When an Offer is No Longer Acceptable
  • Counter-offers

Timing

  • Timing of an Acceptance
  • Firm Offers
  • The "Mailbox Rule" and Exceptions to the Rule

Consideration

  • Types of Consideration
  • When Consideration Doesn’t Exist
  • Adequacy of Consideration

Capacity

  • Cases Where Capacity is Absent

Uniform Commercial Code (UCC) Issues

  • UCC Overview
  • Topics Covered by UCC
  • Sales of Goods (Article 2)
    • Formal Requirements
    • Exceptions to Signed Writing Requirements
  • Enforcing the Intent to Form a Contract
  • Criteria of Firm Offers
  • Offer and Acceptance
  • The "Battle of the Forms"
  • Statute of Frauds and its Exceptions

Misrepresentation

  • Impact of Misrepresentations to Contract Status
  • Types of Misrepresentations
  • Voidable Transactions

Effects of Mistakes

  • Mistakes vs. Misrepresentations
  • Risk of Mistakes
  • Voidable Contracts Based on Mistakes

Conclusion

  • Contract Checklist
Contract Law for Project Managers
Contract Law for Project Managers
Video on Demand
2.5 PDU hours
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$99 USD
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