A Practical Introduction to Business Contract Law

Objectives

At the end of this course, participants should:

• understand the principles and practices of business contract law
• have a dramatically reduced likelihood of inadvertently entering a contract and/or entering a contract at a commercial disadvantage
• have improved awareness of the legal consequences of their actions
• be able to negotiate from a position of legal strength.

Programme/Topics covered :

• Contract Basics – Exercise 1; Key components of contract (offer, acceptance, consideration etc); Exercise 2; normal vs construction contracts; underlying documents and typical contents of a ‘project based’ conditions of contract.
• Getting to contract – ‘soft’ factors and risk, inc. principles of risk allocation and sharing; confidential information/NDA’s; Heads of Agreement; Letters of Intent; Side Letters; Agency; Impact of Negligence; Exercise 3.
• Terms – Express vs. Implied; 6 Acts to know about; Simple and Contracts by Deed; Warranties; Indemnities; and Endeavours. Exercise 4.
• Drafting and Interpreting Contracts – Rules of Interpretation/Construction; Tips for Drafting. Exercise 5.
• Remedies and excluding or capping liability – 6 types of Remedy; Damages in detail; Force Majeure and Acts of God; 3 types of Misrepresentation; Caps & Exclusions.
• Terminating Contracts & Resolving differences – Termination & unwitting termination. Types of Issue/Dispute Resolution; Exercise 6.
• Conclusion and summary.

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