The commercial world is full of agreements between businesses and individuals. While oral agreements can be used, and more importantly relied upon in Court,most businesses use formal written contracts when engaging in trade with each other.
The importance of contracts in writing
Written contracts provide individuals and businesses with a legal document setting out the ground rules of the relationship, the expectations of both parties and how negative situations may be resolved.
Contracts also are legally enforceable in a court of law. Contracts often represent a tool that businesses use to safeguard their resources.
The process of creating a contract generally includes an exchange of information, discussion, negotiation, the drafting of terms and finally the execution of a formal agreement.
How we can help you
We can advise on, assist you in negotiating and prepare many different types of agreements and contracts, including:
- Sale and purchase agreements
- Terms of Trade
- Partnership Agreements
- Deeds of Dissolution of Partnerships
- Shareholder Agreements
- Franchise Agreements
- Agency Agreements
- Loan Agreements and Mortgages
- Service Agreements
- Distribution Agreements
- Employment Agreements
- Supply and Distribution Agreements
What you must do
In business it is particularly important to get legal advice before entering into a contract, or you could face significant consequences.
Furthermore, the underlying transaction of a contract can have GST, taxation and stamp duty consequences.
It is critical that you look before you leap in business, and get everything down in writing. The more important the issue is to you, the more we urge you to seek our advice and assistance.