Why is understanding the terms of a contract important for both parties involved?

a.

Understanding the terms of a contract is important because a person must be certain of the obligations towards the other party, and must also be aware of penalties incurred if those obligations are not met.

b.

Understanding the terms of a contract is only important for lawyers, and should only ever have to be signed and not read.

c.

Understanding the terms of a contract is important because people involved in contracts are almost always taken to court, and must know the contract to give a good defense.

d.

Understanding the terms of a contract is only important when the other party seems shady or untrustworthy.

Question

Mathematics

Mckinley Monroe

15 January, 23:40

Why is understanding the terms of a contract important for both parties involved?

a.

Understanding the terms of a contract is important because a person must be certain of the obligations towards the other party, and must also be aware of penalties incurred if those obligations are not met.

b.

Understanding the terms of a contract is only important for lawyers, and should only ever have to be signed and not read.

c.

Understanding the terms of a contract is important because people involved in contracts are almost always taken to court, and must know the contract to give a good defense.

d.

Understanding the terms of a contract is only important when the other party seems shady or untrustworthy.

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Answers (1)

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Nitro · Answer 1

A) Understanding the terms of a contract is important because a person must be certain of the obligations towards the other party, and must also be aware of penalties incurred if those obligations are not met.