Contract: Difference between revisions
Jump to navigation
Jump to search
| Line 10: | Line 10: | ||
See [[7 Essential Elemnents of a Contract]] | See [[7 Essential Elemnents of a Contract]] | ||
==In Practice== | |||
#In practice, unknowns and contingencies are the elements in a contract which can cause trouble | |||
#Thus, it's critical to define If-then scenarios that consider who has what responsibilities if things do not go according to plan (they never do) | |||
#Who is responsible for what? | |||
#In unexpected conditions, what happens? | |||
#In cases that are not covered by the contract, what happens? Binding arbitration by a chosen neutral third party. | |||
=Overview= | =Overview= | ||
Revision as of 18:15, 6 March 2020
General
A contract is an agreement for performance based on consideration on a given timeline between specified parties. Requirements are:
- Identity of the parties
- Definition of consideration (value for each party)
- Terms - detailing duties and responibilities of each party
- Timeline
- Contingencies
- Signature and date
See 7 Essential Elemnents of a Contract
In Practice
- In practice, unknowns and contingencies are the elements in a contract which can cause trouble
- Thus, it's critical to define If-then scenarios that consider who has what responsibilities if things do not go according to plan (they never do)
- Who is responsible for what?
- In unexpected conditions, what happens?
- In cases that are not covered by the contract, what happens? Binding arbitration by a chosen neutral third party.
Overview
A contract that defines commitments between a community and its members.
Details
- Enterprise Community Contract
- The Contract
- Factor e Farm Social Contract
- Factor e Farm Social Contract v1.0