Sometimes contracts are entered into without knowing, considering or controlling their effects. Particularly to meet your business requirements, and also to keep litigation counsel at bay, it is necessary to ensure that all your contracts are solid, clear and enforceable agreements.
A contract is a meeting of the minds, and may be expressed and entered into in different ways – such as in writing, verbally, by e-mail, by the fulfilment of orders, etc. The technical components of a valid contract are: (i) offer, (ii) acceptance, and (iii) consideration. In addition, to ensure a contract is enforceable, reasonable steps must be taken to bring the terms of an agreement to each party’s attention, and each party must have had a reasonable opportunity to understand the termsRead more