The perils for parties who do not enter into a contract whose terms are certain are well known. There is many a cautionary tale in the law reports demonstrating the importance of contractual certainty. In such difficult economic times for the construction industry, all sides would do well to heed the warnings those cases provide. The reduction of the terms on which work is to be done to a formal contract is something that all parties ought to be keen to ensure before starting work.
To read this complete article visit ICES Construction Law Review 2011.