Ethical Contracts
Contract = A document & agreement which has all of the following points;
1. Meeting of the minds - A meeting between the two parties or members of the contract and must include both verbal and written communication, in the physical world or digital space.
2. Offer and acceptance - There must be an offer by one or both parties and there must be acceptance for a valid contract to be authentically formed. The offer and acceptance of both parties must be in writing and verbal communication.
3. Good faith - The contract must be in good faith, meaning that one would happily switch places in the contract and be on the other side of the contract. This also means that the contract does not violate any lores of morality.
4. Full disclosure - All parts of the contract have been fully disclosed. Both parties fully comprehend the entire contract. The party who is offering something of consideration has a duty to inform the party who is accepting the offer of all the terms and conditions of the contract in full detail.
5. Opening and closing conditions - The contract must have opening and closing conditions. It must outline the duties, responsibilities and process of starting and ending the contract.
6. Consideration - There must be something of true value on offer for there to be a valid contract. True value can be defined as anything which both parties can agree upon is of value and both parties can agree is valued at what the contract states is valued at. There must be full disclosure of the consideration.
7. Willing consent - The contract must not be made under duress. Any contract made or agreed upon under duress is null and void. There must be freely given consent to commit to the contract.
