Contracts (Except for Those of High Paid Essay

Open, View, and/or
Download this Document

Total Length: 626 words ( 2 double-spaced pages)

Total Sources: 1

Page 1 of 2

Contracts (except for those of high paid professional athletes who believe that they do not have to be held to such trivialities) are documents that require events to take place at the behest of each participant. When the participants are buyers and sellers, a contract is normally written to specific exactly what the buyer will receive from the seller, and what the seller will receive from the buyer. The contract also spells out any terms and conditions of the purchase or sale, and what the consequences will be if the contract is not fulfilled by either party.

As one recent article reports "contracts are mediated by markets, implying that there exists a price for every possible good for each possible contingency over each possible date" (Nosal, 2010, p. 1). As Nosal puts it, people choose to buy or sell goods to maximize their own happiness, and their only constraint is that the "value of what they buy cannot exceed the value of what they sell" (p. 1). The idea is to cover the contingencies when the buyer or seller bites off more than they can chew.

Stuck Writing Your "Contracts (Except for Those of High Paid" Essay?

View All Our Example Contracts (Except for Those of High Paid Essay

Have A Custom Example Essay Written

This is true whether it is an individual credit card holder or a large corporation or government entity looking to build bridges, companies or expand services. Contracts can be broken by either side and for a myriad of reasons.

What happens when the seller, or the buyer for that matter, cannot deliver on contractual promises? That's when the problems start. Problems surface when one party or the other cannot fulfill their agreements as stipulated by the contract. For instance, if an individual defaults on his or her credit card payment, the credit card company can refuse to pay for future purchases, can levy fees and higher interest rates, and can even send Luigi in to collect monies owed.

In the case of government entities or corporations, many….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Contracts Except For Those Of High Paid" (2011, November 25) Retrieved May 20, 2024, from
https://www.aceyourpaper.com/essays/contracts-except-high-paid-84368

Latest MLA Format (8th edition)

Copy Reference
"Contracts Except For Those Of High Paid" 25 November 2011. Web.20 May. 2024. <
https://www.aceyourpaper.com/essays/contracts-except-high-paid-84368>

Latest Chicago Format (16th edition)

Copy Reference
"Contracts Except For Those Of High Paid", 25 November 2011, Accessed.20 May. 2024,
https://www.aceyourpaper.com/essays/contracts-except-high-paid-84368
   

Open, View, and/or
Download this Document
order custom essay example