As the list of our commercial law services indicates, contracts are used to cover a wide range of commercial situations and requirements, but the listed services are by no means the only circumstances in which contracts are needed and we are often been engaged to produce entirely bespoke contracts.
Essentially in each case, the contract shoudl set out the agreed responsibilities of the parties and what each is to deliver or receive. It may also need to cover different circumstances and issues which may arise in the course of the performance of the contract and what happens at the end of the contract, or if something goes wrong, liability and a number of other issues.
Depending on the circumstances, the law may determine or restrict what should be included in a particular type of contract or may imply terms into the contract. In such cases, it is essential to be aware of the implied terms or relevant law, as the contract itself may give an incomplete or inaccurate impression of the parties’ rights or obligations. Often, one of the risks generally for business people in reviewing a proposed contract is that while they may be able to assess and take a view on what is included in the contractual terms, it can be much more difficult to register what is not, but ought to be, included in the terms.
It is important also to appreciate that provisions can look very different depending on which party they are intended to benefit or protect. Unless they have been negotiated, contracts are rarely balanced and will tend to favour very strongly the party for whom they have been prepared. It may be suggested that the terms are not open to negotiation, but in truth this is rarely the case and even small changes which can be agreed, can have a big effect in rebalancing a contract and the risks it presents.
Our commercial lawyers have considerable experience and expertise in preparing, advising on and negotiating a wide range of commercial contracts.
If you would like advice on a business contract or for a business contract to be prepared or you require any general contract advice, please contact our commercial lawyers on 08081668827.
For further information you may be intereted in:
- Manufacturing agreements and supply chain agreements
- Spotlight on terms and conditions of sale
- Spotlight on terms of purchase
- Limitation of liability
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