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A short Guide for writing a Contract

Doing business can be tricky because it involves a lot of trust on both parties especially if large sums of money are involved. At this point, oral promises lose their effectiveness and a written agreement that can be used in court is needed just in case the agreement fails. This written agreement (which is legally binding) is called a contract and lays out what is expected for both parties to do in the business they are conducting and what legal measures would be taken in the event when those expectations are not met.

Because of the purpose of a contract, contract-writing can be a tricky and technical business. But below are some basic tips on how to write a contract.