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Becoming Familiar with Contracts

Becoming Familiar with Contracts. What is the definition of a contract?. According to Webster’s - a binding agreement between two or more persons or parties; especially : one legally enforceable. What are the main types and purposes of a contract?. Written (usually formal agreements)

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Becoming Familiar with Contracts

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  1. Becoming Familiar with Contracts

  2. What is the definition of a contract? • According to Webster’s - a binding agreement between two or more persons or parties; especially : one legally enforceable

  3. What are the main types and purposes of a contract? • Written (usually formal agreements) Examples include real estate purchases, loans, cell phone agreements, SAEP agreements. • Verbal (usually informal agreements) Examples include deals made through a “hand-shake” or bartering systems.

  4. What are the main purposes of a contract? • Purposes • Protect both parties • Maintain integrity • Expectations for both parties • Legal recourse

  5. What is included in a contract? • Who – what individuals or groups are involved? • What – what is the contract for? Services, loan, land, real estate. • When – what period does the contract cover? One time, daily, weekly. • Escape clause – what does either party need to do to get out of the contract? • Any other specifics necessary for the situation.

  6. This is a sample agreement for a student with a production SAEP!

  7. This is a sample agreement for a student with a production SAEP! Page 2!

  8. This is a sample agreement for a student with a job Placement SAEP!

  9. This is a sample agreement for a student with a job Placement SAEP! Page 2!

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