Title: Create a guarantee, a warranty, and a contract.
Course: Agricultural Business Management III (18201-36) > Section: Making Consumer Choices

Creation of warranty and guarantee should include

- privilege of return
- effective date
- terms of the warranty or guarantee.

Creation should include identification of contract components

- parties involved
- consideration
- effective date
- consideration of the contracting parties.

Process/Skill Questions:

- What is meant by a privilege of return?
- What are the four parts of a legal contract?
- Why is the effective date an important consideration?
- What are the differences between a guarantee and a warranty?
- How are contracts most commonly used in agribusiness?