When do you have a contract and when are you just talking?
That question is one of the most essential things to think about when handling contract formation. The negotiation portion of any contract in business relations is incredibly important. It defines how you arrive at all the elements of a contract. The negotiation can be handwritten, verbal, emailed, in a text; so you have to be careful when recording those details. It’s important, therefore, when coming out of these negotiations to reiterate what has been agreed upon and what hasn’t so the parties can close the deal.
Runtime: 22 minutes
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