Identifying the Types and Terms of Contracts



 
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1.00 hour
Online Self Study
PEX406

ID:1000000181
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About the Course

Contracting is critical for business. However, ineffective contracting can lead to financial loss and legal disputes. Effective contracts reduce financial and legal risk by clearly reflecting the parties’ intentions and by containing all critical elements to make the contract valid and enforceable.

Course Description

Contracts facilitate commerce interaction between parties by substantiating the goods or services to which the parties agreed. For any company, it is important to know how to create a valid contract that effectively reflects the intent of the contracting parties and helps avoid financial and operational risks and future disputes.

This course provides the fundamentals of contracting to help you identify the critical elements of a contract, the various contract types and the risks associated with them, and the standard clauses that a contract should have.

Learning Objectives

After completing this course, you should be able to:

  • Recognize the elements and purpose of contracting.
  • Identify the different types of contracts.
  • Identify the contractual terms and conditions used in commercial contracts.
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