Banquets & Catering Contracts

Flashcards that define key vocabulary terms related to banquet and catering contracts.

Contractual Agreement

Both parties must understand the conditions and legal rights of a contract.

Legal Capacity

The ability of parties to ratify a contract; minors and intoxicated individuals lack this.

Mutuality

Both parties are interested in the contract's terms and are legally bound when signed.

Offer

A proposal to provide something in exchange for another.

Acceptance

An expression by the offeree agreeing to the terms of the offer.

Consideration

Something of value exchanged in a contract to make it enforceable.

Legality

Contract must have a legal objective to be considered legal.

Genuine Assent

Parties must consent to the terms of the contract.

Proper Form

Contracts should be in writing and signed; verbal contracts are harder to prove.

Cancellation Rights

Clients may be granted refunds upon adequate notice and reselling the date.

Definite Booking

A confirmed date with a deposit granted.

Tentative Booking

A reserved date with a guaranteed function price for a specified time.

Final Billing

Payment collection method used by most companies for services provided.

Cash Method

Payment due upon delivery of services.

Credit Method

Most payments for services are done through credit.

Credit Period

The time allowed for a customer to pay an invoice.

Invoice

An itemized bill detailing the goods or services provided.

Refund Policy

Conditions under which clients may receive refunds for cancellations.

Event Logistics

The planning and managing of all aspects of special events.

Catering Services

The provision of food and drink for events, often under contractual agreement.

Service Styles

Various methods of serving food at events, including buffets and plated meals.