Land contracts may pose traps for the unwary

Article Abstract:

Standard land contract forms that can be purchased at an office supply store often need substantial revision to make them suitable for transactions in which the seller finances the mortgage for the buyer. Potential problems include the buyer's ability to insure the property, the buyer's access to the title and how buyers will deal with the seller's hostile heirs. Land contracts allow unnecessary risks for the parties and needlessly complicate transactions that can be more simply handled by a note and mortgage.

Interpretation and construction, Installment land contracts

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A Bright Line - The General Accounting Office's Right To Examine Records of Fixed-Price Contracts

Article Abstract:

Conditions under which the General Accounting Office (GAO) of the government has the right to examine a contractor's cost records are explained. There is sometimes uncertainty about how far the GAO can go in examining records, however. Apprehension has been voiced in Congress that the door might be open for undue government meddling. A law case, Bowsher versus Merck, is examined. A Supreme Court decision in that case serves as a guideline to how far the General Accounting Office can go.

Laws, regulations and rules, Contracts, National government, Federal government

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MarChem plant adds new production line

Article Abstract:

New Haven, CT-based MarChem Coated Fabrics Inc has announced the completion of the installation of a new production line that will increase the capacity of its New Haven facility. The installation cost $250,000 and is expected to help the company fulfill a brisk demand for its products. A company official reported that sales for Marchem's Top Gun, Aqua-Tite and Odyssey lines of laminated marine fabrics increased by 22% in the FY ended Apr 30, 2000.

Production management, Connecticut, Coated & Laminated Fabrics, Fabric Coating Mills

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