A contract is defined as an agreement enforceable by law.
Business contracts are typically designed to be value-creating agreements enforceable by
law. For example, when you enter into a contract with a supplier, you anticipate that the
supplier’s product will enable you to increase the value of your own products.
Lawyers traditionally have focused on the enforceability part of the contract definition;
their goal is to construct legally perfect, enforceable agreements that minimize legal risk.
The lawyers’ orientation is not surprising given their mindset. Lawyers are trained to
look at contracts through the eyes of a judge who might eventually have to rule on a
contract dispute. Thus a good contract, from the lawyers’ perspective, is one that
minimizes the client’s risk and is enforceable in court.
Key takeaway. The use of visualization through decision trees, pictures, diagrams and
color can clarify your negotiation decisions and your understanding of complex legal
documents.
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