From marriages to car purchases, people are always looking for the security of legal contracts. When parties back out of arrangements that have not yet been made official, there is little recourse except to learn a lesson and move on. When it comes to massive projects like building a skyscraper, contracts are usually signed before the work is even planned, adding a layer of protection for builders.
From plumbing to landscape architecture, few ventures bring together more disparate industries and professionals than construction. Contractors and management firms often have to put their money forward while getting projects off the ground, which can cause problems during sudden delays or cancellations.