Who reading this has entered into a casual agreement with just a handshake or a nod of the head? For agreements on who is buying dinner or who gets to choose the movie of the night, those types of “contracts” are just fine.
But for the contracts that are more formal and require an exchange of goods and services or hours and fees need something more than verbal yes and nos. They need to be written out and agreed on by each of the parties.
That’s because when you start to trade money and goods or services, you need something to fall back on should someone not meet their side of the agreement. A contract makes sure everyone is legally of the age to be able to sign an agreement, for starters.
What else goes into that written agreement and what should you know about a contract before signing one? This infographic offers some clues.
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