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

Levy

7 February, 18:41

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.

+2

Answers (1)

Know the Answer?

Javon Lee · 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.