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BBA 3210
Date Posted: 21/04/2021
Category: Business
Due Date: 23/04/2021
Instruction
How important are contracts in your business life? Do you enter into informal contracts without even thinking? Explain your responses. We all enter into contracts without reading and understanding all of the terms of the contract, but who has time to read and understand pages of small print, or who can afford to hire a lawyer every time they get a new cell phone or buy a car? Have you ever entered into a contract without really understanding all of your obligations involved in the contract? You might say that you have not done that, but think whether you really understand all of the terms of the contract for your cell phone service, your cable or satellite television service, the loan for your car, or your lease or mortgage. Is there anything each of us can do to avoid entering into contracts that we do not understand without missing out on things we need and want? Your journal entry must be at least 200 words in length. No references or citations are necessary.
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