Chapter 14 Read and answer 1. This question is based upon a question in the chapter. Suppose you and I negotiate a contract pursuant to which agree to buy all of the rights to my latest invention (and the company I organized to develop the invention) for $10 million plus the amount of the company's outstanding debt (approximately $1 million) that I incurred in developing the invention. Suppose, too, that when I sent you a draft of the contract, the contract stated that the purchase price would be $10 million less the company's debt. What is your ethical obligation to me? Should you tell me about the mistake? What Life Principles would you apply in this situation - and how might some of our ethical theorists look at the situation? 2. Based on the information in the class materials, identify and explain at least four situations where a written contract is either necessary or recommended. 3. Compare and contrast the perspectives of a lawyer and a business client when approaching the negotiation of a contract