A contract is an agreement which sets forth binding obligations of the relevant parties
It is enforceable by law, and any party that fails to fu lfill his contractu al obligations may be sued and forced to make compensation, though most contracts do not give rise to disputes
The contract is based on agreement, which is the result of business negotiations
There are two types of business negotiations: oral and written
The former refers to direct discussions conducted at trade fairs or by sending trade groups abroad or by inviting foreign customers
Business discussions through international trunk calls (long distance call) are also included in this category
Written negotiations often begin with enquiries (询价) made by the buyers to get information about the goods to be ordered such as qu