In: Operations Management
any picture of a written contract (from any source) and then show the following elements of this contract:
1. The names of the contracting parties.
2. The date and the place of the contract.
3. The subject of the contract.
4. The consideration.
5. The main obligations of the contracting parties.
6. Any other specific terms and conditions.
In any written contract is an enggagement of work between two parties involved and their main constituent as follow:
a) First Party
b) Second Party
c) Date of Contract ( Date contract is been issued for signing by accepting party)
d) Place of Contract
e) Details of Offerd Position(If employment contract)
f) Renumeration & Benefits (If employement contract)
g) Duration of Contract
With an actual example I would explain you the above terms that happens to be added in the contract and that to be signed by both the parties to be node of acceptance for any contract.
Below is the Rental contract between two parties here First Party is Landlord(Property owner) & the second party is the 'Teanant' taken a Warehouse on an sum of amount monthly payable for a specified period of time.
In above contract agreement second party has signed and given his conscent on all above terms as proposed by the first party.
I hope answer all youre required questions has been clearly answerd with above given example.