Contract Creation Management

Essay by Raquel.StevensonUniversity, Master'sB+, July 2009

download word file, 4 pages 0.0

After reading the contract and creation management scenario that has provided many steps to avoid wasteful times and poor productivity, it was determined that most of the time when companies become engaged in a legal dispute based upon a contract between each of them, they search for ways where they may resolve the dispute while insuring a profitable relationship for the future. If the actions are directed in the correct order then this procedure would help avoid risk for companies, maximize their opportunities for their business, and decrease liabilities.

Certain terms were not verified in the contract which caused problems to generate later in the developmental stages of production; both parties had concerns and issues to address. Concerns with Spans deliverables in the last couple of months are behind schedule along with the quality of the deliverables being unacceptable with bugs found in testing. Under the section of certain and clear terms, certain components are needed to make the contract binding.

According to Jennings, 2006 “A contract is a promise or set of promises for breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty.” (Pg. 497) “A contract is formed when two parties with the correct mental intent, under the correct circumstances, within the boundaries of the law, and with some detriment to each of them agree to do certain acts in exchange for the other’s acts. The elements for a successful formation of a valid contract are offer, acceptance, consideration, capacity of parties to contract and lawful purpose.” (Pg.506)In the simulation the companies have valid contracts, but terms of the contract law C-S and Span have is a bilateral contract, which both parties promise to perform certain things, such as Span Systems accepted an offer...