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Contracts for Your Business: A straightforward guide to contracts and legal agreements by Charles Boundy

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Chapter 8. Contracts & Risk

8.1 Introduction

Risk, benefit and cost – Imagine someone says that they’ll sell you their car for a stated price but they can’t guarantee either that it’s theirs to sell or that it will work. You probably wouldn’t want the car at all or, if you did agree to take the risks, you’d expect to pay a great deal less. This assumes you were even told about the reservations; if you weren’t told, you’d certainly expect some redress if things did go wrong. This chapter considers how you might think about and plan ahead for likely risks and, if things do go wrong, be clear who picks up the pieces – and the bill.

Negotiating risk allocation – Once you’ve identified the more likely risks, you’ll then need to think how ...

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