000			01304cam a2200229 4500
001			ABS68787
008			050317n2005 000 0 eng u
035			_a(Sirsi) u129083
100			_aKlein, R.
245			_aBeware of contracts nonsense
260			_c2005
490			_aConstruction News _v(6907) 10 March 2005, 15(1)
520			_aDescribes "Koch Hightex v New Millennium Experience Company" ([1999] EWCA Civ ?, [2000] CILL 1595) which is an example of where a clause is written which requires contractors and subcontractors to provide guarantees or bonds as a condition precedent to payment. Explains that these clauses are usually meaningless because they are not well understood and the courts will usually interpret the contract in a way that works against the party that wrote the contract. The New Millennium's payment clause was dismissed as commercial nonsense by the judge as it insisted upon Koch Hightex providing the work without payment until the necessary security was achieved.
590			_aABS
650			_aBUILT ENVIRONMENT-BUILDING CONTRACT FORMS
650			_aKOCH HIGHTEX GMBH V NEW MILLENNIUM EXPERIENCE COMPANY LTD
650			_aCONTRACT CLAUSES
650			_aGUARANTEES
650			_aBONDS
690			_aBUILT ENVIRONMENT-BUILDING CONTRACT FORMS
942			_n0
999			_c74937 _d74937