When you operate a business you make commitments to clients, customers, and vendors. They do the same with you. Some of those agreements are formalized in written documents. Others are implied. A crisis often brings to the forefront who is responsible for what and when. Understanding contracts and agreements help give clarity to current situations. How you negotiate things like leases, payment terms, guarantees, warranties, returns, intellectual property, confidentiality, etc. can also define how you will run your business going forward. Learn some important and key points about commitments you have made to others as well as agreements they have made to you.