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About this document
- Pages
- 5 pages
- Price
- $5 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business Management, Contract Law
- Module
- Week 3 · Week 3
This assignment covers the simulation of contract creation and management. It helps you identify legal issues, apply legal principles, and evaluate alternatives to resolve problems in the simulation. It is for Week 3 of the course.
What's inside
- Contract creation and management simulation
- Legal issues and principles in the simulation
- Legal risks and opportunities
- Alternatives to resolve problems
- Best approach to resolve the conflict
Who it is for: Students taking a Business Law course, specifically Law 531. (Undergraduate)
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Summary
Contract creation and management are covered. Students get to see how to identify legal issues in a contract and how to write a memo about them.
The Contract Dispute
A conflict between Span and C-S is described. The contract terms and the dispute are explained.
Negotiation Strategies
Two negotiation strategies are compared. Interest-based negotiation is recommended. The reasons are given.
Recommended Strategies
Span proposes three strategies to resolve the dispute. The benefits of each strategy are explained.
Conclusion
The importance of clear contracts is discussed. Some recent court verdicts are mentioned.
Key terms
- Positional bargaining
- A negotiation strategy where each party argues for their desired position.
- Interest-based negotiation
- A negotiation strategy that focuses on cooperative problem-solving.
- Change management
- The process of managing changes to a contract.
- Contract enforcement
- The process of ensuring that a contract is followed.
- Internal escalation procedure
- A process for resolving disputes within a company.
- Change control panel
- A group that reviews change requests and flags any changes in project scope.
Questions this document helps with
- What are the legal issues in this contract dispute?
- What are the benefits of interest-based negotiation?
- How can Span and C-S resolve their contract dispute?
Summary written with AI from the document's text.
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