Excersise 4E Glossary by Jomi Sonkamuotka

Contract = sopimus

sonkamuotkajomi — 2025-02-23 17:00:28 UTC

A contract is a legally binding agreement between two or more parties

sonkamuotkajomi — 2025-02-23 17:01:32 UTC

Concluding a contract means finalizing an agreement by agreeing on all terms and signing the document

sonkamuotkajomi — 2025-02-23 17:02:26 UTC

In a contract, parties are the individuals who enter into the agreement

sonkamuotkajomi — 2025-02-23 17:03:07 UTC

A vendor is the party in a contract who sells or provides goods and services to the buyer

sonkamuotkajomi — 2025-02-23 17:04:01 UTC

A buyer is the party in a contract who purchases goods or services from a vendor

sonkamuotkajomi — 2025-02-23 17:05:07 UTC

Comply with means to follow guidelines or requirements

sonkamuotkajomi — 2025-02-23 17:05:55 UTC

Terms and conditions are the detailed rules and guidelines that both parties agree to follow in a contract or service

sonkamuotkajomi — 2025-02-23 17:06:42 UTC

Binding means that a contract is legally enforceable

sonkamuotkajomi — 2025-02-23 17:07:18 UTC

A verbal contract is an oral agreement between parties

sonkamuotkajomi — 2025-02-23 17:08:42 UTC

A dispute is a disagreement or conflict between parties

sonkamuotkajomi — 2025-02-23 17:11:06 UTC

Terminate means to officially end or cancel a contract or agreement

sonkamuotkajomi — 2025-02-23 17:12:12 UTC

Terms of payment refer to the conditions outlined in a contract that specify how, when and in what manner payments should be made

sonkamuotkajomi — 2025-02-23 17:14:28 UTC

A defective product or service is one that is faulty

sonkamuotkajomi — 2025-02-23 17:15:30 UTC

The Consumer Disputes Board is an independent organization that helps resolve conflicts between consumers and businesses