Business transaction does not alone involve merchandise, like purchasing and selling/supplying of items needed by a certain company. It may also deal with services such as maintenance, janitorial, professional and many more. Business transaction entered into by a company to a company, requires a legal contract, stating therein the terms and conditions not just by one of the parties but by both parties. Appropriate legal forms are usually prepared by the contracting parties themselves even without the aid of the internet. Business transactions entered by big companies, are usually taken care of their respective company lawyers from the discussion, to the terms and conditions, and up and not limited to the preparation of the legal form needed to make their transaction official. Company executives and the likes, are usually dependent on their lawyers’ thorough assessment of the contents, as well as the terms and conditions stated in the contract. Often than not, they are very submissive listeners to their lawyer’s opinion concerning business contracts, otherwise they should have not hired a lawyer whom they cannot depend on more sensitive legal matters.
Business transaction does not at all times involve the participation of a company lawyer. Business deals entered into by a certain company, which is the buyer opposite a not so big trading company, as the seller, concerning supply of office consumables by the latter to the former, can be merely attended to by each company’s authorized representative, but nevertheless, this business deal also requires the provision of a legal form appropriate for their arrangements so as to protect the interest of both parties.
Almost always this kind of transactions is good for one year which renewal upon expiration depends on the satisfaction of both involved parties obtained from each other. Usually, business contract of this kind does not fail to clearly stress its revocability, in case either of the party finds the contract tarnished and unqualified due to poor performance, either on the part of the supplier which may involve the quality of the supplies and at times, the delivery period or the on part of the costumer or the client which may involve the commonest issue which is the payment and with which may breach the agreed terms stated in the contract finding it unacceptable for the supplier as it not only hinder their smooth operation but also distort their financial flow. Apart from the reason mentioned above, any just cause for that matter may be qualified to render their contract null and void. Dealing with conflicts of this kind depends on how sensitive and strict in compliance the contract both parties entered and agreed upon demands. But still nothing can be left unsettled out of a good discussion and compromise between two agreeing parties.