1 Nov 2022

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The Importance of Contracts in Business

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Academic level: College

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God had promised the Jewish people’s forefathers (Abraham, Isaac, and Jacob) that He will give them a land flowing with milk and honey (Genesis 35:10-12). The forefathers had kept their side of the deal by continuing to worship God. The groaning of their descendants compelled God to demonstrate to them his power and mercy to keep His side of the promise by effecting the covenant. God was determined to fulfill His promises with the Jewish people. All sides, thus, had kept their side of the deal. 

God had to continually repeat the covenant to the Israelites to remind them that they belonged to, and depended on, Him. The repetition of the covenant also reminded the Jews that they were part of a vital relationship with God, and, thus, what they did was important to Him. 

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The covenant required the people to obey God’s commandments, and God to fulfill His promises. God also promised to punish His people if they failed to obey him and refuse to keep His commandments. When people broke the covenant, God punished them by deferring the fulfillment of His covenant (Exodus 32:25-28). 

When the people thought that God had forgotten them, they turned away from Him by creating idols and worshipping them. They also engaged in evil acts that were against God’s commandments (Exodus 32:1-19). 

A contract is a vital element in business. From God’s covenant with the Jews, we learn that a contract has two sides and both sides must keep their part of the deal. Failure by another party to keep their part creates problems that hinder the implementation of the contract. When organizations enter into a contract with their customers, they must ensure that they fulfill their duties to customers. Customers, on the other hand, must ensure that they maintain a good association with the organization by performing their responsibilities effectively. 

Reference  

Bible, K. J. (1996).  King James Bible . Proquest LLC. 

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StudyBounty. (2023, September 15). The Importance of Contracts in Business.
https://studybounty.com/the-importance-of-contracts-in-business-assignment

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