- Clearly define the scope of work and expectations for the vendors.
- Clearly outline the payment terms, including any penalties for late payments.
- Include provisions for warranties and guarantees on the quality of the products supplied.
- Outline the process for resolving disputes or issues that may arise during the partnership.
- Specify any confidentiality or non-disclosure agreements that need to be established.
- Ensure the contract complies with any relevant laws and regulations.
- Consider including provisions for termination or renewal of the partnership.
- Review and negotiate the terms of the contract with the vendors to ensure a fair agreement for both parties.
Jonathan and his partner Drew understand they need to create a document to address stipulations for working with their vendors who supply building materials and home decor staging products for their home show. While drafting a contract, what key principles should Jonathan and Drew remember?
(1 point)
7 answers
Professional representation; legal structure
Professional representation; legal structure
Exchange of value; offer and acceptance
Exchange of value; offer and acceptance
Legal structure; exchange of value
Legal structure; exchange of value
Offer and acceptance; professional representation
Professional representation; legal structure
Exchange of value; offer and acceptance
Exchange of value; offer and acceptance
Legal structure; exchange of value
Legal structure; exchange of value
Offer and acceptance; professional representation
Professional representation; legal structure
Offer and acceptance; exchange of value
These are the key principles that Jonathan and Drew should remember while drafting a contract with their vendors for working with building materials and home decor staging products for their home show.
Offer and acceptance; exchange of value
These are the key principles that Jonathan and Drew should remember while drafting a contract with their vendors for working with building materials and home decor staging products for their home show.
pick 1
Legal structure; exchange of value
are you sure
Yes, I am sure. The principle of legal structure refers to ensuring that the contract is legally enforceable and complies with relevant laws and regulations. The principle of exchange of value emphasizes that both parties should receive something of value in return for their obligations or services. These principles are crucial in creating a fair and binding contract with vendors supplying building materials and home decor staging products for Jonathan and Drew's home show.
1 answer