In common law legal systems, a contract (or informally known as an “agreement” in some jurisdictions) is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them. The elements of a contract are “offer” and “acceptance” by “competent persons” having legal capacity who exchange “consideration” to create “mutuality of obligation.” Do your contracts and customer/supplier agreements have “teeth” or are they nothing more than a collection of legal jargon that nobody reads, much less understands; until there is a legal issue? This course is twofold. First, the basics of contracts are covered. Second, based on SCE’s Founder’s experience with major corporations and the development of meaningful contracts, “teeth” type clauses will be analyzed. Although most agreements are typically one-sided in favor of the author, the students will learn how to structure language in the intent of partnering, to still maximize customer expectations, but to benefit the supplier as well.
