Contract Management

The first thing we should have is a definition of a contract. Texts on business law define a contract as follows: A contract is an agreement between competent parties, for consideration, to accomplish some lawful purpose with the terms clearly set forth.

First of all, the contract is an ''agreement.'' This means that the parties involved must have a meeting of the minds and decide that they will do the things set forth in the contract. By this definition no contract can be forced on someone. If any kind of forcing or coercion is done, there cannot be an enforceable contract. You cannot force someone at gunpoint to sign a contract to buy aluminum storm windows and expect to hold the person to the contract.

The contract must ...

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