How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask LawyerDavid Your Own Question
LawyerDavid, Attorney
Category: Business Law
Satisfied Customers: 253
Experience:  Highly experienced attorney in all aspects of Business Law
Type Your Business Law Question Here...
LawyerDavid is online now
A new question is answered every 9 seconds

I am preparing a sworn statement for residential new

Customer Question

I am preparing a sworn statement for residential new construction and am curious if I am able to mark up materials purchased. Obviously I submit this sworn statement at each draw request with necessary waivers. However for example if my lumber bill for the project is $34,000 and I pay $34,000 to the lumber supplier and bill the homeowner 36,000 on the sworn statement thus profiting 2,000 from my trade discount can I display this as Lumber $36,000 instead of the $34,000 I paid to the supplier thus profiting 2,000. Or would this have to be displayed separately as my profit?
Submitted: 1 month ago.
Category: Business Law
Expert:  LawyerDavid replied 1 month ago.

Hello: my name is ***** ***** I will assist you. The answer to your question is it depends on what your contract states for the project. However, I would not accept a sworn statement from you that materials cost a certain amount when they really cost less, unless the contract you entered allows you to include overhead and profit onto the cost of the materials purchased. Thanks, David

Related Business Law Questions