posted a year ago
"In business law, there are four main types of contracts commonly used: supply contracts, sale of goods contracts, service contracts, and employment contracts.
1. Supply Contracts
A supply contract is an agreement between a buyer and a seller in which the seller agrees to provide the buyer with specified goods or services over time. These types of agreements are often used in the manufacturing and construction industries.
2. Sale of Goods Contracts
A sale of goods contract is an agreement in which a buyer agrees to purchase specific goods from a seller. This type of contract is typically used in retail transactions.
3. Service Contracts
A service contract is an agreement in which one party agrees to provide certain services.
4. An employment contract is a legal document that outlines the terms and conditions of employment between an employer and an employee. The contract typically includes details such as the employment start date, job duties, pay rate, benefits, and a termination clause. It is essential to have a written employment contract in place to protect both parties in a dispute."