risk, responsibility and dispute avoidance

Question 1

what is the purpose of a contract?

Answer 1

allocate risk and responsibility between parties

Question 2

risk assessment

Answer 2

• ways to deal with possible events going wrong

Question 3

justified vs perceived dissatisfaction

Answer 3

justified: client may win
perceived: client may lose

Question 4

5 steps to follow if client pressures professional to make a decision

Answer 4

1. inform client in writing what choice is being made
2. reasoning
3. consequences
4. costs
5. reconsiderations of decisions

Question 5

disclaimer

Answer 5

• exclusions, limitations, or waiver clauses designed to preclude or limit the ability of one party