OBJECTIVES

Whether you run a business out of your home or a big skyscraper, using written agreements is critical to protect yourself and to keep growing. Our Business Contract will help you outline the terms and get you started on the right foot.

• Your business plans to buy or sell physical products from another business.
• Your business will provide a service or receive a service from another business.
• You are an individual or independent contractor who wants to make a formal business agreement.

• Should Attend This Course:
• Almost daily we make contracts. Ignorance is not a privilege. It is a misfortune. Managers, company directors, executives and businessmen need to clearly understand contract law. Now it is even more important to understand how contracts can be made electronically through the email and the world wide web over the internet. Get a thorough understanding of the principles of contract law through this interactive course. Emphasis will be placed on the terms and clauses frequently used in the drafting of contracts, agreements and joint ventures.
• Rules on doctrine of variation and amendments of contract will be explained. Samples of different types of contracts will be provided such as contracts of employment. Participants will learn how to terminate a contract and know the remedies available for breach of contract.
• Learn how to conduct your businesses effectively within the laws of business and companies.
• Case studies and case presentations will be given. Video training materials will be used to enhance learning.  Quizzes and problem-solving scenario questions will be used throughout the course for practical applications/practices.

Outline:

Nature of A Business Contract

• commercial contract
• gentlemen agreements
• oral/verbal contracts and written contracts
• who is the reasonable man?

Effective Negotiation Skills

• hard vs. soft negotiator
• how to negotiate for a successful contract?
• Harvard Principled Negotiation Techniques

Requirements of a Valid Contract

• distinguish between "invitation to treat" and "offer"
• newspaper advertisement and catalogs
• intention to create legal relations, domestic and commercial contracts
• consideration: sufferance e.g. the price
• Contracts (Rights of Third Parties) Act
• Capacity to make a contract
• minors
• mentally disordered and drunkards

E-Commerce Contracts

• making contracts via emails and the world wide web on the internet
• Electronic Transactions Act & its implications

Terms of a Contract

• express terms vs. implied terms
• parol evidence rule in written contracts
• conditions: fundamental terms
• warranties: minor terms
• complex terms
• breach of conditions & warranties
• consequences of breach of contract terms

Amendment & Variation of Contract Terms

• the 4 exceptions

Exemption Clauses

• Unfair Contracts Terms Act
• control of exclusion clauses by case law & statutory laws
• negligence & damages

Factors affecting Contract

• misrepresentation
• inducement, sales talk
• fraudulent, negligent & innocent misrepresentation
• effects of misrepresentation
• remedies: rescission & damages
• mistake
• types of mistakes
• mutual mistake
• common mistake
• unilateral mistake
• operative mistake to avoid contract
• duress & undue influence
• voidable contract
• economic duress, loss of profits
• illegal contracts & its consequences
• void contracts
• contracts in restraint of trade
• non-competition clauses preventing working elsewhere

Discharge of Contracts

• 4 ways to terminate a contract
• by performance
• by agreement (novation)
• by frustration
• by breach

Remedies for Breach of Contract

• refuse further performance
• damages: monetary compensation & awards
• how much monetary awards can be claimed?
• Rule of remoteness of damage
• mitigation of damages
• speculative damages
• liquidated damages, pre-estimate genuine damages, penalty clauses
• specific performance
• injunctions
• common law remedies
• equitable remedies

How to Resolve Your Contractual Disputes

• negotiations & consultations
• mediation
• arbitration
• mini-trials
• litigation & the Legal System
• the courts
• common law vs. criminal law
• contract law vs. tort law (wrongful acts)

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

 Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: