Contract Creation and Management Simulation

Memo
To: commission Staff
From:
Date:February 2009
Re: bring creative activity and Management Simulation

The management team was required to conduct the Contract Creation and Management framework on the companys intranet. The simulation is designed to help management become familiar with popular legal risks associated with client wither agreements. This memo will identify the risks outlined in the simulation, what managers can do to avoid those risks and the best track to minimize the liabilities.

Simulation Summary
The Contract Creation and Management simulation centers around a keep down dispute between Span Systems a California-based custom e-banking software package developer and their client Citizen-Schwarz AG (C-S) a very lucrative Stuttgart-based fiscal institution whose main purpose of procuring the software is to enter the U.S. retail financial services market. Due to changes in the scope of the product, that in-turn change the reasonable period of performance, quality was compromised in an effort to bond to the agreed upon delivery dates; as a result, the client was uneasy with the deliverables. C-S requested transfer of all unfinished products and a rescission of the constrict.



Span Systems is tasked with mending the relationship with the client and saving the $6 million contract while trying to avoid the villainy of traditional litigation.

Contracts by Law
The definition of a contract is a promise or set of promises for breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty (Jennings, 2006). In short, a contract is a set of voluntary promises that the law will follow up for private parties (Jennings, 2006). There is more than one role of contract; however, the most common type of agreement the company enters into and the type of agreement identified in the simulation is a bilaterally symmetric contract where both parties sign an agreement to perform definite things...If you want to get a full essay, order it on our website: Ordercustompaper.com



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