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    Minimizing Contract Disputes and Litigation

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    Consider the elements that form a contract.

    What steps should an organization take to ensure that the organization employees and agents follow the best practices with regard to creation and management of contracts, with a goal of minimizing contract disputes and litigation?

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    Solution Preview

    A contract should be made legally enforceable with the following characteristics:

    a. There must be an offer and an acceptance.
    b. There must be consideration.
    c. The parties to the contract must be competent.
    d. Its purpose must be legal.
    e. The ...

    Solution Summary

    This response outlines the steps an organization should take while creating contracts to ensure minimal contract dispute and litigation.