NEGOTIATION CONTRACTS ESSAY PAPER ( 8 PAGES PAPER IN APA FORMAT)

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Business Finance

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MGT 4193 Week 8: Negotiation Contracts

One type of negotiation dealing is with contracts. While some verbal contracts can be upheld in the court of law, it is imperative to have a written contract, as well. Having a written contract details the specifics of the “deal” and is basically a verbal contract on paper. Contracts should be written as if it were a recipe. Leaving out key items could create a loophole, in the contract, which could later cause some issues.

For this assignment, you are asked to write an eight page paper is to develop a contract based on a scenario you have created (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in detailing your negotiation contract as well as describing the scenario you have created. The scenario that you create will need to be one that is specific and/or an unusual circumstance (be creative).

Below are the subtitles you can use; however, please note that you can change the name of the subtitles based on your scenario.

1. Introduction

a. Define contracts and the importance of contracts

2. Specific circumstances

a. What is the scenario you have created for this assignment?

3. Importance of addressing other’s needs

a. Be clear when identifying the needs of both parties

4. Preconditions

a. Explain any prerequisites that are imperative prior to moving forward with the development of the contract.

5. Contract

a. Discuss the details of the contract, in full.

6. Conclusion

Be sure to support and justify your positions and conclusions with references to relevant library resources or reputable sources outside of the library. All written assignments should follow APA requirements.

The inclusion of your textbook and two outside references (a total of three sources), retrieved from the university library, is required for the completion of this paper.

Assignment: Negotiation Contracts

Objective: For this assignment, you are asked to write an eight(8) page paper is to develop a contract based on a scenario you have created (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in detailing your negotiation contract as well as describing the scenario you have created. The scenario that you create will need to be one that is specific and/or an unusual circumstance (be creative).

Below are the subtitles you can use; however, please note that you can change the name of the subtitles based on your scenario.
1. Introduction
a. Define contracts and the importance of contracts
2. Specific circumstances
a. What is the scenario you have created for this assignment?
3. Importance of addressing other’s needs
a. Be clear when identifying the needs of both parties
4. Preconditions
a. Explain any prerequisites that are imperative prior to moving forward with the development of the contract.
5. Contract
a. Discuss the details of the contract, in full. (NO MORE THAN 1 PAGE)
6. Conclusion

Be sure to support and justify your positions and conclusions with references to relevant library resources or reputable sources outside of the library. All written assignments should follow APA requirements.
The inclusion of your textbook and two outside references (a total of three sources), retrieved from the university library, is required for the completion of this paper.

Content and Development
17 Points Possible

Points Possible

Points Earned

Comments

Met minimum page count eight pages

2

Included adequate introduction

2

Identified specific circumstances detailing the scenario created

3

Identified importance of addressing other's needs

3

Described the preconditions that may be considered as prerequisites

3

Effectively discussed the contract in full (NO MORE THAN 1 PAGE)

2

Adequate conclusion included

2

Mechanics
8 Points Possible

Points Possible

Points Earned

Comments

Paper meets APA guidelines to include in-text citations, double-spacing, and reference page

2

Used textbook + two outside sources

2

Rules of grammar, usage and punctuation are followed.

2

Spelling is correct.

2

Total Points

25

0

Submitted on Time?

Date Due and Date Submitted:

4/28/18

Yes! Full Credit

Adjusted Points

0

Comments:


Unformatted Attachment Preview

MGT 4193 Week 8: Negotiation Contracts Please remember to submit your assignment to Moodle. The course is MGT 4193.01. One type of negotiation dealing is with contracts. While some verbal contracts can be upheld in the court of law, it is imperative to have a written contract, as well. Having a written contract details the specifics of the “deal” and is basically a verbal contract on paper. Contracts should be written as if it were a recipe. Leaving out key items could create a loophole, in the contract, which could later cause some issues. For this assignment, you are asked to write an eight page paper is to develop a contract based on a scenario you have created (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in detailing your negotiation contract as well as describing the scenario you have created. The scenario that you create will need to be one that is specific and/or an unusual circumstance (be creative). Below are the subtitles you can use; however, please note that you can change the name of the subtitles based on your scenario. 1. Introduction a. Define contracts and the importance of contracts 2. Specific circumstances a. What is the scenario you have created for this assignment? 3. Importance of addressing other’s needs a. Be clear when identifying the needs of both parties 4. Preconditions a. Explain any prerequisites that are imperative prior to moving forward with the development of the contract. 5. Contract a. Discuss the details of the contract, in full. 6. Conclusion Be sure to support and justify your positions and conclusions with references to relevant library resources or reputable sources outside of the library. All written assignments should follow APA requirements. The inclusion of your textbook and two outside references (a total of three sources), retrieved from the university library, is required for the completion of this paper. Assignment: Negotiation Contracts Objective: For this assignment, you are asked to write an eight page paper is to develop a contract based on a scenario you have created (the title and reference page will not count towards page count). Please ensure that you address each of the following sections. Each section will need to be labeled with the use of subtitles. You will need to be thorough in detailing your negotiation contract as well as describing the scenario you have created. The scenario that you create will need to be one that is specific and/or an unusual circumstance (be creative). Below are the subtitles you can use; however, please note that you can change the name of the subtitles based on your scenario. 1. Introduction a. Define contracts and the importance of contracts 2. Specific circumstances a. What is the scenario you have created for this assignment? 3. Importance of addressing other’s needs a. Be clear when identifying the needs of both parties 4. Preconditions a. Explain any prerequisites that are imperative prior to moving forward with the development of the contract. 5. Contract a. Discuss the details of the contract, in full. 6. Conclusion Be sure to support and justify your positions and conclusions with references to relevant library resources or reputable sources outside of the library. All written assignments should follow APA requirements. The inclusion of your textbook and two outside references (a total of three sources), retrieved from the university library, is required for the completion of this paper. Content and Development 17 Points Possible Points Possible Met minimum page count eight pages 2 Included adequate introduction 2 Identified specific circumstances detailing the scenario created 3 Identified importance of addressing other's needs 3 Described the preconditions that may be considered as prerequisites 3 Effectively discussed the contract in full (ONLY 1 PAGE) Adequate conclusion included Mechanics 8 Points Possible Paper meets APA guidelines to include in-text citations, double-spacing, and reference page Points Earned Comments Points Earned Comments 2 2 Points Possible 2 Used textbook + two outside sources 2 Rules of grammar, usage and punctuation are followed. 2 Spelling is correct. 2 Total Points 25 Date Due and Date Submitted: 0 4/28/18 Adjusted Points Submitted on Time? Yes! Full Credit 0 Comments:
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Explanation & Answer

Attached.

Introduction
Contracts and its Importance
Contract can be defined as the deliberate, voluntary, and an agreement that is legally binding between
two or more parties that are competent to perform the contract considerations. Contracts can be in
form of written agreement, implied or even spoken but must fall within legal actions such as
employment, tenancy, lease or sale of property. The contractual relationship is characterized by an offer
made by the party giving the contract, be accepted by the party receiving the contract, and have a valid
legal consideration. Entering into a contract gives each participating party the right and duties relative to
the duties and rights of the other participating party. Contracts deliver benefits to each party but the
legal provision does not ensure each party will have equal benefits. Therefore, contracts is an important
aspect in the business world and alongside it carries the importance of the contracts.
Importance of contracts
In many occasion companies enter into contracts for a number of reasons. These reasons define the
importance of contracts to business. Some of the reasons include minimizing costs, minimizing risks,
acquiring quality of resources the company does not have, and increasing the production base with
quality goods and service. Discussed below are some of the importance of contracts in a business.
Limit obligations – the service contracts give clear guidelines of the duties a company will perform in the
contract agreement. These eservice contracts arise when a business contracts another company to
perform services that the host business cannot perform. Some of these services include the technical
support services, maintenance services of the business’s equipment. Such services have specific
information stating the manner in which the service contact will be performed, the price of each service
contract, and the frequency at which the service contract will be performed. Therefore, the use of such
service contracts ensure that the company does not complete the service contract without its
compensations.
Expert insight – before a business creates and signs a contract there is the need to seek legal advice
concerning the nature of a binding contract. In some cases contracts vary in relation to the size of the
business and the willingness to complete a contract function. For example, small businesses may be
subject to larger businesses in the view that they might take advantage over the other entrepreneur’s
willingness to perform business or contract functions. Therefore, some contracts contains complex legal
terms and then it requires legal experts to interpret the benefits of the contracts and advice whether
small businesses should agree some specific contract terms.
Fix resource costs – one of the most important use of contracts is creation of agreement with a company
that agrees to sell business resources to other clients at a fixed cost. This ensures that production
businesses have a defined selling price of their products and services for a given time period. In addition,
contracts are used as tools of hedging against the unexpected increase in costs of economic resources.
Therefore, the fixed resource costs help businesses get benefits in case the costs of economic resources
increase.
Non-competence agreements – when enforcing non-competence agreements, businesses use contracts
to perform such a function. Non-competence agreements limits other businesses from offering goods
and services in the marketplace. Such contracts therefore allow two partnering businesses in contract

agreement have a strategic relationship between them thus offer a unique quality product or service to
the marketplace. On the other hand the non-competence agreements may be by companies to limit
their former employees from who have specific knowledge concerning the business specialized services.
Specific circumstances
To understand the full context of contracts and the specific right and duties applicable to each in the
contract agreement, there is the need to create a scenario to establish such functions. The scenario
created for this assignment outlines the company giving the contract and the company taking the
contract. The contract is service contract in nature and it needs to be completed within a year. The
scenario outlines the specific duties of each party and the legally binding obligations that need to be met
before the contract is terminated. Suppose Nuclear Energy Company (not real) has in its year term plan
is contemplating expansion of its energy production for the nation. Nuclear Energy Company has
decided to contract Sheens Company (not real) to set up a geothermal power plant for the energy
expansion. This scenario will help in generation of knowledge about contracts, how they are created, the
duties of each party, the rights of each party, and the legally binding conditions of the contract. The
created scenario contains full requirements of a valid contract, alongside the compensation plans after
the termination of the contract. The contracting company stated its specific requirements of the
contract and the company taking the contract quoted it cost or price for the service of setting up a
geothermal power plant. The contract went through the process of launching of the contract and the
potential companies placed their bids for the contract. The selection process involved analyzing the
potential companies, reviewing their performance level based on prior offered services, their service
charges, and the expected time of contract completion. To fully understand the contract scenario I shall
outline the duties ...


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