Chapter 2

Contracts — what are they?

Doing deals — the stuff of life

Contracts are the essential heart of any commercial relationship. We all enter literally hundreds of thousands of contracts over our lives, many of which are verbal. They are as important a part of modern business life as walking, talking and breathing.

This book is primarily focused on negotiating commercial contracts. It does not deal with a ‘retail’ contract where you seek to buy food from the supermarket or a movie ticket. In those types of contracts there is little room for negotiation and there is a beautiful simplicity to the relationship between you and the other party — you want what they have and are willing to pay for it (or vice versa). That’s it!

While these essential ...

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