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Contract Risk And Opportunities Essay

986 words - 4 pages

Running head: CONTRACT RISK AND OPPORTUNITIES

Contract Risk and Opportunities
University of Phoenix

Contract Risk and Opportunities
A thoughtful and precisely written contract that allows for all parties involved a thorough understanding of every detail and all expectations and procedures will provide a beneficial working relationship for all parties involved. Creating a contract that has the ability to expand and contract within a working relationship, as air does in our lungs without thought, creates a more effortless situation that in the end will minimize misunderstands and disagreements. If, in this case, C-S and Span had been more specific in the offer and C-S in the ...view middle of the document...

Any contract that goes against public policy is also unenforceable, such as offering to pay someone to walk through town naked.

“The one-year contract between Span and C-S is worth 6 million. C-S’s bigger e-CRM order is in the pipeline, and chances of Span getting the order hinge on the performance of this contract” (University of Phoenix [UOP], 2009). Span’s objective must be to exceed C-S’s expectations on all levels in order to insure, or at least improve the chances of Span getting the e-CRM project. A contract that spells out all details regarding performance and expectation by both companies will at least allow the possibility of exceeding aforementioned expectations.
Contractual details between C-S and Span Systems
In the simulation Citizen-Schwarz AG (C-S) and Span Systems showed offer and acceptance by Span offering to create software for C-S, and C-S accepting the offer in exchange for payment. A promise of services in exchange for payment was made, thereby satisfying a legal requirement, consideration. This agreement is in accordance with the law, and satisfies all legal requirements. C-S agreed to pay Span $6 million to create software that would increase the banks ability and efficiency in various bank transactions.
Performance
More likely than not, a dispute arises due to lack of clarity concerning a party’s obligation. C-S must more carefully consider the kind of product they want, a way to measure quality, and what kind of time frame for delivery of said product would be desirable. The current agreement for performance states “Performance: …neither party may cancel this agreement, in whole or in part, subsequent to more than fifty percent of the consideration having been tendered by the other.” (University of Phoenix [UOP], 2009). This performance clause must be rewritten in order to move forward in a mutually beneficial manner.
Performance per contract is considered met when the “successful execution of a contract, or fulfillment of an obligation, in a manner that releases the performer from all liabilities under the...

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