Business Contract Law for Non-Legal Professionals
Understanding contract law is vital in business and will help you safeguard your business interests and protect your company’s rights at all times. Learn how and when a contract is formed, appreciate the different terms in a contract, find out the various vitiating factors that can rescind a contract and ways to discharge a contract, and remedies available to an innocent party in the event of a breach of contract? Real life examples and case scenarios will give you an opportunity to apply these knowledge to actual situations.
Benefits to You
Be exposed to the fundamentals of contract law principles and learn when there is a fundamental breach of a contract and the various options available to an aggrieved party. More importantly, know how to protect your business interestsand rights by taking steps to ensure that your business has suitably wordedexclusion clauses to limit liability. Be advised on how you can recover the maximum damages due to you in a dispute such as a breach of contract.
- What is a contract and how is it different from an agreement?
- Understand when a contract is formed.
- Assess whether a vitiating factor has occurred and the options available when it occurred.
- Develop an appreciation of express and implied terms and to contrast a condition, warranty and innominate term.
- Distinguish between misrepresentation, mistake, undue influence, duress,unconscionability and illegality and the effects on a contract.
- Identify clauses in restraint of trade and the legitimate interests tobe protected.
- Recognise the various ways in which a contract may be discharged.
- Differentiate between penalty clause and liquidated damages clause.
- Appreciate the legal and equitable remedies available in the event of a breach of contract.
- Understand how damages are quantified based on concepts of causation and remoteness.
- Recognise when extra-ordinary or secondary losses may be claimed from the party in breach.
- Use of exemption clauses to protect your business interests.
· Business planning
· Safeguarding contractual rights
· Understanding implications of discharging contracts
· Enforcing contractual rights
· Differentiation of various contractual terms
Who should attend
(Level 3) New Managers
(Level 4) Managers