Select a business contract transaction you are familiar with or can easily research.

Select a business contract transaction you are familiar with or can easily research. You may use a transaction occurring in your workplace, or one where you have been a consumer (such as auto insurance, rent or purchase of your residence, or cell phone or computer purchases). What are the elements of the contract (for example the offer or acceptance)? How are the terms of the contract established? What can managers involved in the transaction do to minimize contract risk and maximize contract benefits?