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Guidelines for Commercial Contracts

If you wish to enter into a contract or agreement with any external person or body the elements which will concern you most are those which touch on your particular area of interest, your research and the goals which you are seeking to achieve. So that the contract or agreement can serve its purpose and protect and ensure that the objects are achieved or safeguarded there are some basic and essential elements of the relationship which if neglected could put the relationship at risk.

The most basic and essential elements of any contract or agreement are the parties, the consideration (often the price), and the duration of the relationship or the time for performance.
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