Business-to-business agreements should be in writing (personal agreements with friends and relatives also fall in the “put it in writing” category). If the contract touches a matter of any significance at all, then best to include all these components:
  • The Parties
  • Description of the goods or services to be procured
  • Delivery/Performance
  • Price and Payment
  • Length of Agreement
  • Termination of Agreement
  • Warranties
  • Indemnity
  • Limitations of Liability
  • Misc. Clauses, e.g. choice of law