CHAPTER REVIEW QUESTIONS 1. Explain the process for forming a contract and what will make it valid and enforceable. 2. Explain the things that will potentially make a contract invalid. 3. According to the statute of frauds, under what conditions must a construction contract be in writing? 4. Explain the parol evidence rule and give an example. 5. Explain the contract interpretation method "contra proferentem." 6. List and explain contract interpretation methods used to determine the intent of the parties. 7. Explain the concept of third-party beneficiaries as it relates to construction contracts. Give an example. 8. If one of the parties to a contract fail or refuse to complete their obligations they may in of the contract. 9. List at least four primary reasons that we commonly use standardized contract forms. 10. Generally, standard contract documents will consist of the contract signed by both parties, that outlines specifics of the agreement and that are specific to each project and modify the standard contract form