Question: 1 1 - 1 0 . What is the most important contract you will need to operate your business? Why is it so important? Describe

11-10. What is the most important contract you will need to operate your business? Why is it so important? Describe any additional contracts you have or plan to secure.
11-11. Negotiate and write a letter of agreement between you and a fellow student. You could agree to become business partners, for example, or to supply a product or service for the other students business.
11-12. Find a lawyer who might be willing to help you with your business. Ask parents/guardians who are in business or who are store owners in your community for referrals. The Small Business Administration or Community Legal Aid Society sometimes offers free or low-cost legal services to entrepreneurs. Describe how you found the attorney and what criteria you used.
11-13. What is the purpose of securing a building permit during leasehold improvements? To whom does it matter? Why?
11-14. What does your signature at the bottom of a contract mean in a court of law? Which two things should you do before signing a contract?
11-15. Suki is buying a van from her father-in-law to start her flower-basket delivery service. She planned to buy auto insurance that would pay all her expenses in case she ever got into an accident. She finds that such insurance would cost $3,000 per year, which, according to her business-plan projections, is more than she can afford. What are Sukis options? What should she do? Why?
11-16. Some businesses sell products and services that can injure customers. List three examples and explain how these companies probably use insurance.

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