Question

LACK OF THE IMPORTANCE AND UNDERSTANDING OF CONTRACTS

Identify the most important facts surrounding the case.

Identify the key issue or issues.

Specify alternative courses of action.

Evaluate each course of action.

Recommend the best course of action.

Answer 1

The contracts provides a written document that outlines the full understanding of the business relationship and scope of work so that no one can claim any misunderstanding later dowm the road , They specially exactly what rights are being purchased and what rights retaining they are binding and legaly enforceable.

First there must be an bargain regarding terms of an exchange second there must be a mutual exchange, in other words bothe parties must get something out of the contract third the exchange mst be something of value.