Understanding Contracts
Quality Contract Checklist
As you get older and become responsible for your finances, you will probably encounter more and more contracts. How will you know whether a contract is safe or not? To help you decide whether to enter into a contract or not, you will develop a Quality Contract Checklist so that you can easily look over an uncomplicated contract and "check off" any needed elements on your checklist. It may be helpful to gather several examples of contracts, or research some examples online, so that you see which items are consistent throughout most contracts. You should consider not only the contract itself, but also the consequences for breaking the contract.
While creating your checklist, please use the following guidelines:
- Your checklist should have at least 10-15 criteria and cover all of the basic elements of a contract that you learned in this lesson.
- Your checklist should be clearly written so that another consumer using it would be able to understand all items on the checklist; however, it can be personalized for you.
- You may design the layout of your checklist however you would like, but it should only be one to two pages in length.
Once you have completed your Quality Contract Checklist, please submit it to the dropbox.