Owner Remedies in Construction Agreements
This article presents a discussion of the issues surrounding certain remedies available to an owner or developer of a project (“Owner”) under a construction agreement with a prime contractor (i.e., general contractor or construction manager, hereinafter “Contractor”), some of which is also applicable to the remedies available to the Contractor under its agreement with a subcontractor. This discussion will highlight the main issues pertaining to principal remedies, but is not intended to serve as an exhaustive survey of all issues and remedies. Also, the article is based on New York State law, though most of the discussion is likely applicable to contracts governed by other state laws.
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“Owner Remedies in Construction Agreements,” by Michael A. Scheffler was published in the Winter/Spring 2017 edition of The Real Estate Finance Journal, a Thomson Reuters publication. Reprinted with permission.
This article was first published in the December 2016 edition of Foundation, Blank Rome’s quarterly real estate newsletter.