“Real power is in the draft nobody reads. Write the draft.”
I'd request a private meeting with my principal to respectfully surface my concerns before negotiations begin. I'd present specific data on why I believe the instructions are problematic—market conditions, legal risks, precedent issues—whatever applies. If they maintain their position after hearing me out, I follow their instructions. They have context I might lack, authority I don't, and accountability I don't bear. However, I'd document my objections in writing. Not as betrayal, but as professional diligence. The "draft nobody reads" becomes protection for everyone if things go wrong—evidence I flagged risks. Power isn't in insubordination. It's in being the person who saw it coming.