Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.The personnel involved in Contract Administration required to negotiate, support and manage effective contracts are expensive to train and retain. A sales contract is a contract between a company (the seller) and a customer where the company agrees to sell products and/or services and the customer in return is obligated to pay for the product/services bought.
The definition of a fault is a weakness in the rock strata that can shift and create an earthquake. An example of fault is the San Andreas fault line in California. Fault means a mistake or a weakness. An example of fault is having a problem telling the truth.
Negligence as a âtortâ or âcivil wrongâ. The most usual definition of negligence is that it is conduct, or a failure to act, that breaches a duty to take care. It breaks down into several elements, all of which must exist to give rise to a liability to pay compensation. There must be a duty owed.