Overview:Regardless of whether you own a business or are a stakeholder in a business, understanding basic contract terms is important. Businesses enter into contracts with many areas, from shipping to suppliers to customers. As a business owner or manager knowledge of these basic terms will assist you in the day to day operations of the business, regardless of the field.Instructions: • Fill in the attached template. • For each term, define the term with citation to authority, define the term in your own words and provide an example of each term. Requirements: • Use APA format for non-legal sources such as the textbook. Use Bluebook citation format for any legal citations. • Submit a Word document using the template. • Maximum two pages in length, excluding the Reference page.
Regardless of whether you own a business or are a stakeholder in a business, understanding basic contract terms is important
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