Reasoning of the Law

In a business aspect the reasoning of law is to protect one's self and business and othere parties dealing in business together."We depend upon laws for safe communities, functioning economies, and personal liberties. An easy way to gauge the importance of law is to glance through any newspaper and read about nations that lack a strong system of justice."(Beatty, J. F., & Samuelson, S. S. (2012). Introduction to Business Law, 4th Ed. South-Western College, Pub/page 4) Most business owners would view a good deal as one that meets all their requirements. But there are many other factors to consider, such as whether you want to do business with a particular supplier again. and if so, sides should conclude a negotiation feeling comfortable and happy with the agreement. Negotiations can be unsuccessful if either side feels forced into a corner. Before starting to negotiate, one should draw up a list of the factors that are most important and decide what you are and aren't prepared to compromise on when ordering supplies in bulk. "If the seller knows that the buyer plans to use the goods for a particular purpose, the seller generally is held to warrant that the goods are in fact fit for that purpose." (Beatty, J. F., & Samuelson, S. S. (2012). Introduction to Business Law, 4th Ed. South-Western College, Pub/page 234)  It's best to get a written contract drawn up and signed by both parties. Although verbal contracts are acceptable and legally binding, they're very hard to rely on in court. Both parties should agree on what the contract will cover. things like price, payment terms and delivery schedule.