Your contract will be written for your family-owned small business. The agreement will be for supplies. A supply agreement is a contract between two parties that details the terms of a purchase of goods from a supplier. Procurement departments often use these agreements when working to procure goods and services for their organization.
Items that should be included in a supply agreement are quantity, quality, delivery time frame, pricing, transportation costs, and specifications of the product being purchased or sold – basically, everything you need to know before buying your supplies.
Be creative yet professional. The following components must be present in your contract. For each element demonstrate your ability to write clearly, concisely, and with advanced communication skills.
Distinguish the type of contract (e.g., bilateral, unilateral) and include the four (4) elements of contract formation.
Develop the factors of quantity, quality, delivery time frame, pricing, transportation costs, and specifications of the product being purchased or sold and restrictions in the contract.
Use and define legal concepts by incorporating the legal terminology from your textbook where appropriate and relevant.
Identify any ethical issues that exist in this alleged contract and possible results. What ethical or legal dilemmas might occur if the supplier was located in another country?
Which legal theories, fundamental laws, or regulations relate to your contract?
Your well-written contract should be 2 to 3 pages long, not including the title or reference pages. Include a minimum of three credible sources to support your findings
