he use of contracts in business relationships has long been the lifeblood of a business and became the living documents that control the dynamics of everyday business. Why are contracts important?

Contracts simplify how the buyer benefits solely from the deal.

Contracts is an unstructured framework of a handshake $($gentleman$$s agreement$).$

Contracts provide the terms, pricing, and service levels of customer$/$partner and$/$or supplier relationships.

Contracts always permits imposing legal action when breaching the terms and conditions.