Commercial Contract Lawyers in St Helens
We are always happy to discuss your queries and provide a scope and fee estimate for a commercial contract. So, please do get in touch.
Commercial agreements are common in business, however there are some agreements that are absolutely central to the operation of a business. But what do the finer details of the agreement mean, and what obligations and exposures to risk are there? It’s important to fully understand them, and it’s important to get them right.
There are generally three different terms contained with a commercial agreement.
There are some, known as conditions, that are fundamental to the contract. If these are breached, the contract can be brought to an end by the other party and compensation can be claimed. Other terms may not be fundamental, and so will not entitle the other party to end the contract, however a breach of them could lead to claims for compensation. Theses are known as warranties. Then, there are innominate terms, that are neither conditions or warranties, but depending on how they affect the performance of the contract, a breach of them could lead to the contract being ended and/or compensation claimed.
What about how the contract is to be performed. This may seem straight forward, however what exactly has to be done, when, where and by whom? What happens if this isn’t fully complied with?
How will certain words within the contract be interpreted? for example, the extent of the obligation on a party to use ‘reasonable endeavours’ isn’t the same as to use ‘best endeavours. It is important to understand the implications associated with terms such as these.
We can draft original contracts to protect your business interests, or we review and advise upon them either before the agreement is entered into, or during its lifetime.
If you would like to find out more about Commercial Contract Drafting & Review call our expert legal team on 01744 744400, fill out our contact form below or contact our key person: