L&T Realty Assistant General Manager Contract Interview Questions, Process, and Tips

Contracts can be classified into various types based on their nature and purpose.

• Contracts can be classified based on their enforceability - valid, void, voidable, and unenforceable.

• They can also be classified based on their formation - express, implied, and quasi-contract.

• Contracts can be classified based on their performance - executed and executory contracts.

• Other types of contracts include unilateral, bilateral, al...read more

FIDIC is an international standard for construction contracts. There are different types of FIDIC contracts for different purposes.

• FIDIC stands for International Federation of Consulting Engineers

• FIDIC contracts are widely used in the construction industry worldwide

• Different types of FIDIC contracts include Red Book, Yellow Book, Silver Book, and Green Book

• Red Book is used for construction projects where the employer i...read more

Basic Rate is the minimum hourly wage paid to an employee for their work.

• Basic Rate is the minimum hourly wage paid to an employee for their work.

• It is determined by considering factors such as the employee's job role, experience, and industry standards.

• Other items to be considered for Basic Rate include the cost of living, minimum wage laws, and collective bargaining agreements.

• For example, a restaurant may have a Bas...read more

Expectations are the desired outcomes or results that an individual or organization anticipates from a particular situation or task.

• Expectations can be set by an individual, team, or organization.

• They can be related to performance, behavior, or outcomes.

• Clear communication of expectations is important for success.

• Examples of expectations in a work setting include meeting deadlines, achieving sales targets, and providin