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Back to construction law
Question 1 of 20
In standard construction contracts, what is the primary legal significance of reaching 'Substantial Completion'?
A.
The contractor is entitled to the full contract price including all retainage.
B.
The owner can occupy or utilize the project for its intended purpose, and the statute of repose typically begins to run.
C.
The contractor's liability for all patent and latent defects is immediately extinguished.
D.
The warranty period for all equipment expires on this date.
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