Question

Rick and his wife Michonne are building their dream home in Alexandria, VA. The couple have designed a two-story craftsman style house, complete with a samurai style training dojo and shooting range on the edge of their property. They have hired Walker Construction LLC, owned and operated by Negan Walker to complete the construction of their home. Negan has agreed to complete their home in four months. The contract has no provisions specifically dealing with payments. Rick and Michonne would like to pay Negan when the house is completed, however Negan is insisting on being paid as he works. Based on the information obtained chapter 17, structure a payment schedule that takes into account the needs of both owner and contractor. You can refer to the sample AIA Form of Agreement Between Owner and Architect on page D-2 for inspiration. However I am looking your own ideas based on the reading.

Answer 1

Answer:

Pay as you earn, P.A.Y.E

Explanation:

The best method to be adopted here is pay as you earn, P. A. Y. E.

Pay -as-you -earn is a type of payment, whereby the worker is being paid as per the amount, hour, day, week or month he used to work.

Most times, it is always based on daily basis.

In this aspect, Michonne and Negan should agree on P. A. Y. E method of payment. Because, it is the only method that will satisfy both parties.