Joey would like to apply for a loan but knows that why is understanding the terms of a contract important for both parties involved?
a. understanding the terms of a contract is important because a person must be certain of the obligations towards the other party, and must also be aware of penalties incurred if those obligations are not met.
b. understanding the terms of a contract is only important for lawyers, and should only ever have to be signed and not read.
c. understanding the terms of a contract is important because people involved in contracts are almost always taken to court, and must know the contract to give a good defense.
d. understanding the terms of a contract is only important when the other party seems shady or high debt-to-income (dti) ratio will probably get in his wayhe would like to lower his dti ratio by lowering the amount of his gross monthly income that goes to 's current monthly expenses include a rent payment of $1,100, a $178 car payment, and a combined minimumpayment of $220 for his credit card debt.
