Friday, December 9, 2011

Business Law basics - Contract laws risks

Everyday businesses create potential problems for themselves by entering into contracts.

Contracts, that are binding can be written, verbal or even implied. Imagine the difficulty in resolving the terms of a contract that is not written. Despite this, very rarely we stop to note all the details of all the business agreements we make - even though they are probably legally binding contracts.

There are set criteria to test impartially if an agreement is legally binding. The video below gives an explanation.

Also see;

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