Understanding contracts is essential to the effective planning, formation, growth, and continued management of a business venture. This text provides a straightforward guide for entrepreneurs, managers, and professional practitioners who need a thorough understanding of business contracts. It covers issues including: structre, formation, performance, and breach. It also discusses issues such as revocation, warranties, etc. The text is organized in an easy-to-read, question-and-answer format that breaks down the elements of the contract into small digestible pieces. Following an explanation of the applicable rules, the text includes simple examples to help the reader understand the relevant principles.