Services The collective name of all material things that the supplier or contractor is required to deliver in accordance with the agreement. It includes goods or finished work as well as drawings, specifications and other related documents. Intangible assets such as collateral are generally not included – these are commonly referred to as „continuous obligations“. Trade agreements assume that the parties intend to be legally bound, unless they expressly state otherwise, as in a document of the Heads of Agreement. For example, in Rose & Frank Co v. JR Crompton & Bros Ltd, an agreement between two commercial parties was not enforced because an „honour clause“ in the document states: „This is not a commercial or legal agreement, but only a declaration of intent by the parties. » Order form A pre-printed form used to enter into a contract with a supplier and usually the buyer`s terms and conditions are an important part of a contract. If a condition is breached, the contract may be terminated, as opposed to a guarantee, which is a less important part. A verb refers to compromise as giving up something you want in order to reach a mutual agreement („The union and the employer have agreed on a compromise“).