About commercial contracts
If two or more parties are looking to create a legally binding agreement a contract can be created.
The contract is a voluntary agreement but it is enforceable in law.
The body of laws which apply to the rights and obligations of those included within a contract is known as contract law. This is a complex area of law; however, our knowledgeable team have the understanding and experience to provide reliable contract law services.
What is a contract?
There are many examples of contracts within our everyday lives, such as paying money in exchange for a product or performing work in exchange for payment. There are a variety of contract laws which exist to govern the interpretation and validity of contracts between two or more parties. These parties can be individual people, organisations or companies and the contract can relate to a variety of agreements. For example, providing services, selling goods or exchanging ownership.
To create a contract there needs to be an offer, such as the exchange or money for goods or services, immediately or in the future. The contract expresses the willingness of all involved parties to agree to the offer and will provide the basis of the legally binding agreement. There may be some amendments to a contract in the form of counter offers before a contract is finalised.
The formation of a contract can take time, as communication and negotiation between parties is needed to ensure that each party has constructive or actual knowledge of its existence. This is a necessary step to creating a legally binding contract. Our team will assist in all aspects of creating a contract so that all parties have the protection of a legally enforceable agreement.
What needs to be included within a legally binding contract?
Our team have vast experience in creating contracts and understand the complexities of contract law, so we can help you effectively create a sound and valid contract. There are three key elements which our solicitors will include in your contract to ensure its validity: an agreement, an intention to create a legally binding relationship and the consideration element.
Once the offer is accepted and the consideration payment is received, the contract becomes effective. Although, in the case of conditional contracts, the condition must be met before the contract becomes enforceable.
How can our team help?
Our team understand the importance of clear and accurate contracts and have the experience needed to consider the variety of issues which can impact the legality of a contract. Our team will partner with you to understand your specific requirements so that we can develop a contract which meets your needs and protects your interests.
Alternatively, our team can examine a potential contract before you agree to the terms. Our understanding of the key contract law terms will ensure you are fully aware of the implications before agreeing to a contract. To discuss contracts or contract law in more detail, please contact our experienced team today and we will be happy to help.