Commercial Contracts

Commercial Contracts


When starting any business, it is most important to obtain advice from the right people. This means choosing lawyers who can guide you through the entire process, helping with elements which may never even have crossed your mind. Carter Bond provides clear, commercial, pragmatic advice about the business in question – whether you are a sole trader, a partner, or a limited company. We can talk you through every legal aspect of your business, from Shareholders' Agreements, to website terms and conditions, to obtaining the correct licences.

What We Do

  • Shareholders' Agreements.
  • Business terms and conditions.
  • Website terms and privacy policy.
  • Confidentiality Agreements.
  • Loan Agreements.
  • Agency and distribution agreements.
  • Commission agreements.
  • Directors service agreements.
  • Joint Ventures.

FAQ - Commercial Contracts

When is a contract formed?

A contract is formed when the following five basic elements coincide:

· Offer

· Acceptance

· Consideration

· Intention to create legal relations

· Certainty of terms

A contract may be made in writing, by word of mouth or may be implied from the conduct of the parties. Parties involved in any negotiation process should therefore always have the five basic elements in the back of their minds and be careful not to bind themselves inadvertently to a contract during the preliminary stages of negotiations.

What advice can Carter Bond Solicitors offer your company on commercial contracts?

· Advice on the process of entering into commercial contracts

· Negotiating and writing/drafting a contract

· Interpreting a contract, for example to understand each party’s rights

· Reviewing a contract to give an opinion upon its impact

· Amending or changing a contract

· Terminating a contract

· Resolving disputes about contracts

What are implied terms?

Implied terms are terms that have not been expressly agreed by the parties but are implied into the contract by the court on the basis of:

· Usage or custom

· The parties' previous course of dealings

· The intention of the parties, a term implied "in fact"

· Common law

· Statute

What happens when a contract is breached?

The aggrieved party has the right to take legal action against the breaching party. They might pursue an award of damages, specific performance or cancellation of the contract.

Examples of when a contract can be breached include:

· A party failing to perform their contractual obligation within the agreed timeframe

· A party failing to perform their obligations at all

· An obligation being performed in a way that was not agreed in the contract

How can my business protect itself from insolvent customers?

You could use what is commonly known as a retention of title clause. The object of such a clause is to give the seller of goods priority over secured and unsecured creditors of the buyer if the buyer fails to pay for the goods because it is insolvent, or for some other reason which may be specified in the clause.

As with any other term, you must ensure that it is fully incorporated into the contracts that you enter into. Should a buyer be a company in administration then you would require the permission of the administrator or the Court before you could repossess any goods that you had effectively retained title to.

Reena

Reena Popat

With over 10 years experience, Reena has significant knowledge and expertise when it comes to corporate and commercial matters. She is best placed to draft any agreement you require for your business.

Naju

Naju Chowdhury

Naju recently qualified has a solicitor in 2019 and mainly specializes in corporate and commercial matters. She has experience working with clients globally, specializing in international commercial needs as well as the UK.


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Commercial Contracts Solicitors
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