Why contract is important

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Reference no: EM132197039

Discussion Board Week 4: Contracts

This week your discussion topic is contracts. You have learned a lot of the different legal requirements to hold an event public or private. The event planner must be heavily insured and should have their business incorporated, although they can have a business without corporation. There are many required licenses, city, state and federal, permits and tax ID numbers. Contracts are one of the most important legal documents you can have. Still, today many people still think because they are friends, they can just give their word. However “their word” will not hold up in court if anything goes wrong. Just let a bride’s wedding go wrong, friend or not, there will be restitution for the errors or lack or delivery.

In your discussion question you will discuss the importance of a contract and how you are protected. Discuss what can go wrong if there is not a contract and how the situation would be different if there was a contract. Include in your discussion the four parts of a contract and if you would still have a contract if one of the parts was missing. Include the answers to the following questions in your discussion because it will help with a better understanding of the concepts. Also, talk about what a counter-offer is and how to deal with it.

What are Parties?

What is an Offer?

What is Acceptance?

What is Consideration?

Have you ever had a contract to get some work done and it turned out the contract assured the work was done on time and correctly?

The purpose of this discussion is to have a good understanding of what constitutes a contract and why a contract is important.

Reference no: EM132197039

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