Contract.doc

Writing Strategy Contract A contract is usually an agreement enforceable by law between two or more parties. It may be formal or informal, oral or written, but for some types of contracts, they are required to be written and signed to be valid, such as the contract to sell real estate, etc. One party of the contract usually agrees to do or not to do something. An agreement can be called as a contract if it has got mutual agreement; it has a legal consideration, i.e. something valuable; both parties are legally capable to make a contract; it is not signed by fraud or under duress; its theme does not violate any laws or policies. There are a great variety of business contracts, which mainly include: Agreement, Sales Agreement, Sales Contract, Trade Agreement, Purchase Agreement, Purchase Contract, Import Contract, Export Contract, Agency Agreement, Compensation Trade Contract, Employment Contract, etc. A business contract can be divided into four parts: title, preamble, body and the witness clause. The title of a contract illustrates its type and the contract number. The preamble displays the complete name of the parties concerned, their addresses, telephone and fax numbers, etc. The body explains the purpose of the contract, definition of terms and its specific provisions. The witness clause specifies the copies, the language used in the contract, and the signature of the parties concerned. When two or more parties expect to make a contract, they will usually arrive at a general agreement first. Then they will go on to work on the specific provisions of the contract, such as the name of commodity, specification, quality, quantity, unit price, total amount, packing, shipping mark, port of destination, time of shipment, terms of payment, insurance, warranty and claim, force majeure, amendments to contract, cancellation of contract, arbitration, etc. The terms vary according to the requirements of different kinds of contracts. Since the main purpose of a contra