Recognizing Contract Risk and Opportunities Memo

?Resources: Contract Creation and Management Simulation
?Conduct the Contract Creation and Management simulation, located on your student website.
?Identify the legal issues present in the simulation and note the legal principles that apply to each legal issue.
?Reflect on the legal principles presented in this week?s readings.
?Prepare a memo in which you discuss the legal risks and opportunities that are in the simulation, and complete the following:

oIdentify what a manager might do to avoid those risks, to minimize liabilities, and to benefit from opportunities. Each legal risk or opportunity is governed by specific principles.

oIdentify the legal principles and relate specific measures managers might take to minimize legal risk or realize legal opportunities.

oEvaluate alternatives to resolve problems identified in the simulation.

oExplain which alternative approach you believe is best and explain why.

?Write a memo of no more than 1,400 words.

?Format your memo consistent with APA guidelines