Define contracts and the importance of contracts

One type of negotiation dealing is with contracts. While some verbal contracts can be upheld in the court of law, it is imperative to have a written contract, as well. Having a written contract details the specifics of the “deal” and is basically a verbal contract on paper. Contracts should be written as if it were a recipe. Leaving out key items could create a loophole, in the contract, which could later cause some issues.

For this assignment, you are asked to write an eight page paper is to develop a contract based on a scenario you have created (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in detailing your negotiation contract as well as describing the scenario you have created. The scenario that you create will need to be one that is specific and/or an unusual circumstance (be creative).

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Below are the subtitles you can use; however, please note that you can change the name of the subtitles based on your scenario.

1. Introduction

a. Define contracts and the importance of contracts

2. Specific circumstances

a. What is the scenario you have created for this assignment?

3. Importance of addressing other’s needs

a. Be clear when identifying the needs of both parties

4. Preconditions

a. Explain any prerequisites that are imperative prior to moving forward with the development of the contract.

5. Contract

a. Discuss the details of the contract, in full(no more than 1 page).

6. Conclusion

Be sure to support and justify your positions and conclusions with references to relevant library resources or reputable sources outside of the library. All written assignments should follow APA requirements.

The inclusion of your textbook and two outside references (a total of three sources), retrieved from the university library, is required for the completion of this paper.

The paper must be quality

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