To make agreements that create value and can be enforced, the parties' underlying rights must be clearly defined in the contract.

Question

Quizplus · Accepted Answer

Clearly defined rights and responsibilities are essential for a contract to create value and be enforceable. If the terms of the contract are vague or ambiguous, disagreements or disputes may arise, making it difficult to enforce the agreement or realize its intended benefits. Therefore, it is crucial to define the parties' rights and obligations explicitly in the contract to avoid misunderstandings and ensure clarity and enforceability.

To Make Agreements That Create Value and Can Be Enforced