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28 Cards in this Set

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Allied Professionals

Other state registered professionals that are most similar to LAs

Building Inspector

Ensures that construction projects meet building regulations and codes of practice.

Contractor

perform a defined scope of work on a construction project

General contractor

responsible for the execution, supervision, and overall coordination of a project.

Subcontractor

works for the general contractor

Specialty Contractor

licensed to perform specialty task

Title Act

Can't call yourself an LA if not registered

Practice Act

Can't call yourself or do the work of an LA if not registered

Sunset Law Reviews

periodic review of state's regulatory authority over occupations

Reciprocal Licensure

policy which acknowledges and accepts credentials awarded by another authority or jurisdiction, allowing LA to serve client in another state

Lien

legal claim by one person on the property of another for security for payment of a debt

Requirements of a valid contract

O- offer and acceptance


C- consideration


C- capacity


A- bothe parties must agree


L- must be legal


F- form, best if written

Affidavit

written statement in which facts are sworn to be true

Arbitration

an arbitration agreement is a contractual provision of settling with a mediator instead of court

Common Law

system of law based on previous cases

Commencement of Improvements

first actual preparation or construction on the site

Deposition

sworn statement of a witness or other party in a judicial proceeding

Due Care

theory of tort law, explains standards of care

Exoneration

request to release the surety bond

Lis Pendens

recorded legal document giving constructive notice that an action affecting a particular property has been filed

Malfeasance

doing of an act in an improper, wrongful, or unlawful manner

Malpractice

failure of professional to act in accordance with acceptable course of conduct

Misfeasance

performing a legal action in an improper way

Statute of Repose

maximum time period for filing claims

Bid Bond

Submitted by contractor with the bid, 5% of proposal

Maintenance Bond

Guarantees owner that any defects found after the work is completed will be fixed

Performance Bond

Guarantees owner that project will be completed for contract price

Payment Bond

Guarantees owner that all labor, equipment, and materials will be paid for