Reference no: EM131707581

Choose a contract that your organization then answer the following questions (giving reasons for your answers.

1. Part 1 Offer and acceptance are essential elements in the formation of a contract. Explain the offer and acceptance phases of your contract.

2. Part2 Discuss the subject matter of the contract .for example, does it involve the purchase of equipment or the provision of services or is it of some other nature.

3. Part3 The contents of a contract and its items. From your contract, identify and discuss a term that is a condition and a term that is warranty and explain why. For example the right of the landlord to increase the fee of the lease, the duty of the employee not to work with any competitor after leaving the employer, or the buyer has checked the product and accept to buy it as it is.

4. Part 4 Disputes often arise during the performance of the term of a contract. Discuss the mechanisms in your contract for the resolution of disputes .(litigation, arbitration, moderation, mediation, …..etc).

5. Part 5 Describe the contract management practices, which were followed that supported the implementation of the contract. In your answer, address the issue of how effective management practices protected the parties to the contract from legal action or how ineffective management practices exposed them to legal action. Management contract may include how the administration manages the contract, how they renew it, how they review it and improve it to avoid any legal disputes in future. In addition, you can mention if there is a regular external review to the contracts by a legal advisor /law office to update them in accordance with the laws of the country.