Assignment task:
Your friend is starting a small business selling handmade jewelry online. They're excited but also confused about ensuring their business deals are solid. They've heard about "contracts" but aren't sure what or when they're needed. Please explain it to them in simple terms, avoiding text message language.
Write a short explanation for your friend that covers these basics:
1. What is a contract? Give a simple definition. (Approx. 50-75 words)
2. What are the key things needed for a contract to be actual? (Think offer, acceptance, and something in exchange). Give simple examples related to selling jewelry. (Approx. 75-125 words)
3. When does a contract have to be written down? Are there any times when a verbal agreement isn't good enough? Again, use jewelry-selling examples. (Approx. 75-125 words)
4. What are some situations where someone might think they have a deal but don't? For example, what if someone is tricked into agreeing or if there's a big misunderstanding? (Approx. 75-125 words) Need Assignment Help?
Keep your explanation short, friendly, and easy to understand, like you're talking to your friend. Avoid legal jargon and text message abbreviations or slang. The total length of your explanation should be at least 400 words.