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Business contract transaction with which you are familiar...

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Select a business contract transaction with which you are familiar. You may use a transaction in your workplace, or in a place where you have been a consumer, such as buying auto insurance, renting or purchasing a residence, or buying cell phones or computers.

What are the contract's elements?

How are the contract's terms established?

What may managers involved in the transaction do to minimize risks and maximize benefits?

Solution Preview

Select a business contract transaction with which you are familiar. You may use a transaction in your workplace, or in a place where you have been a consumer, such as buying auto insurance, renting or purchasing a residence, or buying cell phones or computers.
The business contract transaction I have selected is purchasing desktop computers. The contract is with Dell for 30 Desktop PCs.

What are the contract elements?
The elements to form a binding contract are:
1) Offer - We offered to purchase 30 Desktop PCs but want them delivered at 3 intervals of 10 PCs each when we call for them. The approximate time would be a month apart. Dell would expect payment for each 10 just before shipment.
2) Acceptance of the terms of the offer - ...

Solution Summary

A business contract transactions with which the expert is familiar with is determined.

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