1. Contracts
Get it in Writing

2. What must a contract contain?
Name of Parties
Address of parties
Date the contract is executed.
Signature line for all parties
Content of contract depends on the nature of the contract.

3. Necessary: Term of Contract Amount of money involved
How long is the contract for – state specific dates if possible
Amount of money involved
List down payment if necessary
If something is billed; when it is billed, to where, etc.
Include as much information as possible

4. Necessary Scope of the contract – what is the contract for??
Explain FULLY what the parties are agreeing to
Can also be called Duties and Responsibilities
List what each party to the contract is responsible for.
How to get out of the contract
Depending on contract; must have a statement that addresses how to get out.
Is one party going to owe the other $ to get out?

5. Elements to consider Insurance?? Specific Performance
Who will inspect the quality of work?
Breach of Contract
What if one party doesn’t do what they agree to??
Remedies if something goes wrong?
Other Ideas???

6. Contract Examples Mrs. Dill’s class information folder
Business Law – Contract Examples