https://padlet.com/katyperez2311/wg94vyd79hkz29a8 en-us 2023-09-04 13:44:09 UTC 2023-09-04 23:25:15 UTC hello@padlet.com https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683449165 A business contract is a legally binding agreement between two or more parties that outlines the terms and conditions governing a specific business transaction or relationship. These contracts serve as a fundamental tool in the business world, as they establish the rights, obligations, and responsibilities of all parties involved. Business contracts can take various forms, such as sales agreements, service contracts, partnership agreements, or employment contracts, and they are used to protect the interests of each party by providing a clear framework for how they will interact and conduct business. Key components of a business contract typically include the parties' identities, the scope of the agreement, the agreed-upon terms and conditions, payment details, dispute resolution mechanisms, and any relevant deadlines or performance milestones. Failure to adhere to the terms of a business contract can result in legal consequences, making it essential for businesses to draft, review, and execute contracts meticulously to ensure compliance and mitigate risks.]]> 2023-09-04 13:48:31 UTC https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683449165 katyperez2311 https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683450219 General Business Contracts: Are legal documents that outline the terms and conditions of an agreement and are signed by both parties involved.
Example: Suppose two people - Isa and Vale - want to start a business selling makeup; so they enter into an indemnity agreement.

Bill of Sale: Is a sale agreement that transfers a piece of property from one party to the other.
Example: An example of a situation where this type of contract would be used is in the purchase of a house.

Employment Agreement: It is a private agreement whereby a natural person agrees with the company the characteristics of the employment relationship for employees.
Example: Katy applies for and gets a job as a bookseller in a bookstore. However, before she starts working, Katy will sign a contract with the restaurant that stipulates the following.

Licensing Agreement: Is an agreement that allows the inventor or owner of a product (or invention, service, software, etc.) to allow other parties to use their ‘thing’.
Example: https://4b5839ea12170faacba8-endpoint.azureedge.net/wp-content/uploads/2021/01/license-agreemen-example.jpg

Promissory Note:  Is a type of ‘legal IOU’ – if a business wants to lend money to another party, this type of contract is proof of the agreement, how much money is involved, terms of repayments.
Example: A common promissory note is a job loan.
 ]]> 2023-09-04 13:49:31 UTC https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683450219 https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683462306 It is a contract which comes to indicate the duration, how much they should pay that employee, his conditions among other things. Sometimes in that contract it.]]> 2023-09-04 14:01:09 UTC https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683462306 https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683463243 1. General employment contract
A general employment contract is a legally binding agreement between an employer and an employee that defines the terms and conditions of their working relationship. Like compensation, benefits, position and job description
2. Non-Compete Agreement
A contract in which he comes to describe the time in which he must wait to compete after being fired or leaving his personal position.]]> 2023-09-04 14:02:06 UTC https://padlet.com/katyperez2311/wg94vyd79hkz29a8/wish/2683463243