Running a business successfully involves negotiating agreements, forming contracts with intent is to legally bind the entities involved. A business contract can be in the form of an oral or written exchange, and in many cases through conduct. Most businesses use written contracts to safeguard their resources when services are rendered for a price or specific duties have to be performed. The expectation of the parties involved is stated in the contract, making it enforceable in a court of law. For any contract to be legal, it must contain a number of key elements.
Course Overview
This course introduces the key components of a contract and the principles and practice that underpin the difference between contracts and agreements, the formation of contracts, and various ways to legally discharge the bind of a contract.
Business Lab
The business lab includes exercises, simulations, and case study that will allow you to apply the ideas shared in this course and develop the required skills to do the following:
- General high-level review
- Identify key points relating to terms and termination of a contract
- Identify considerations and the level of performance of a contract
