Exceptionally practical and authoritative, this introduction to construction contracting as it applies to typical, every-day situations explains “theoretical” ideas in terms of what really happens in practice. It emphasizes the more common case law holdings and industry customs that help avoid troublesome legal issues during the completion of a project. Chapter topics cover the law and the construction industry; contract formation, privity of contract, and other contract relationships; an overview of the prime contract—its format and major components; owner-construction contractor prime contract “red flag” clauses; labor agreements; purchase order and subcontract agreements; insurance contracts; surety bonds; joint-venture agreements; bid and proposals; mistakes in bids; breach of contract; contract changes; differing site conditions; delays, suspensions, and terminations; liquidated damages, force majeure, and time extensions; allocating responsibility for delays; constructive acceleration; common rules of contract interpretation; documentation and records; construction contract claims; and dispute resolution. For construction managers and other industry professional concerned with legal and business aspects of construction and construction contracting.