For businesses and individuals, entering into contracts is a daily occurrence. Contracts are everywhere, from an individual buying an ice cream and agreeing to pay the ice cream van the price to a multinational company contracting to buy land that will be used to add 10 new locations to its existing portfolio. Contracts are essential, they keep the wheels of commerce rolling.
In any contract there must be an offer by one party, acceptance by the other party, payment of consideration (usually the price for what is being purchased, but consideration can take other forms) and an intention by both parties to create legal relations. The element of consideration distinguishes a contract from a gift.
Certain contracts are required to take the form of a deed, particularly where land transactions are concerned. A deed must be in a particular form.
A legally binding contract does not have to be in writing, although it helps, nor does it necessarily have to be signed. Contracts can be bespoke or on standard terms and subject to terms and obligations implied by legislation.
In business, a well drafted contract governing the relationship between two or more parties promotes certainty, manages expectations and above all else, helps to avoid disputes.
Sewell Law represents and advises clients in:
Cases when the terms of a contract have been breached, including cases that are the subject of Court proceedings in the County Court, High Court, Mercantile and Commercial Court.
Matters involving the creation of contracts (formation), cases when a misrepresentation has been made by one party to the other and caused loss, issues when contractual warranties need to be relied upon, termination of contracts, repudiation, frustration, force majeure issues, and economic torts. Economic torts including precuring a breach of contract.
The interpretation of contracts, sometimes in relation to specific clauses or the agreement in general.
Preparing and drafting commercial contracts with the inclusion of terms specific to the client’s requirements.