Making Sense of Commercial Contracts - A Guide for Business

Introduction

Many non-lawyers are increasingly being required to review and revise commercial contracts even though they have no formal training in this area. Commercial contracts often have a language of their own which can be difficult to understand and apply in a practical way and the risks associated with this are obvious.

This course sets out a summary of the essential information that any non-lawyer reviewing a commercial contract will require so as to help minimise these risks. Using a series of practical examples drawn from the trainer’s own considerable experience of this topic and delivered with an emphasis on finding common sense solutions, can you afford to miss it?

What You Will Learn

The key topics for discussion will include:

Contract Formation

• What are the requirements for a binding contract?
• What is meant by ‘invitation to treat’, ‘offer’ and ‘acceptance’?
• Can Heads of Terms and similar documents form a binding contract and how should they be used?

Incorporation of Terms / Battle of the Forms

• How do you know that your terms and conditions apply?
• What is meant by the ‘Battle of the Forms’ and what can you do to make sure you win it?

Jargon Busting

• What do lawyers mean when they say...?

Key Contract Clauses

The following topics will be reviewed via a case study that will involve delegates being asked to review and revise clauses and then discuss them among themselves and with the speaker:

• Price and payment
• Warranties
• Indemnities
• Exclusion and limitation clauses
• Term and termination

Boilerplate Clauses

The following topics will be discussed with the speaker using a series of practical examples:

• Entire agreement
• Force majeure
• Assignment and novation
• Contracts (Rights of third parties) Act
• Notices
• Liquidated damages
• Variation
• Waiver
• Jurisdiction
• Applicable law