The Drafting of Contracts
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The drafting of contracts is mostly viewed as a practical process in Business management. It is important to understand that if managers enter into agreements with commercial organizations they will have important obligations to fulfil in return for any rewards that they might receive. So before any commercial agreement is finally signed all parties should invest considerable time and effort in the process which can take many months.
Every contractual provision has a specific purpose and reason for its inclusion in a contract. There must be reasons why a business contract as it does, reads and is structured in the manner and style in which it normally is. These purposes and reasons should be able to be traced back to substantive law and contract theory. There are no specific rules or requirements detailing the right way of drafting a contract, but there are better ways of drafting contracts. The question to be answered throughout this study is why drafters do what they do in a written contract and how such practices are linked back to substantive law.
There are, indeed, a number of strongly held ideological values underlying contract law while its rules are motivated by conscious and deliberate public policy. Understanding these policy themes can help a business manager appreciate the goals and assumptions underlying the legal rules involved in drafting contracts in a simple and understandable manner.
- Introduction to contractual drafting practices
- The History of Common Law Contracts
- Approaches to Drafting
- The Basis of the Written Contract
- Contractual capacity
- Formalities required
- Lawfulness and legality of Contracts
- End Game Provisions
- Dispute Resolution
- Operation of contracts
- Practical Application
By the end of the programme, participants will be able to:
- Process of Contract Drafting and Elements of Effective Contracts.
- Fundamental Policies and Values of Contract Law
- Sources of Contract Law
- General Writing Principles Applicable to Contract Drafting
- Using Defined Terms
- Contract Principles
- Basic Attributes of the Contractual Relationship
- Overview of Contract Standard Provisions
- Promises and Conditions
- Establishing Agreement, Rights and Obligations, Remedies
- Establishing an Agreement: Offer, Acceptance and Consideration
- Planning Ahead for Problems; Contract Interpretation
- Termination Provisions
- Impracticality of Performance and Frustration of Purpose
- Risk Allocation in Contracts
- Clauses that Address the Possibility of Future Litigation
- Understanding General Clauses in Assembling Contracts
- Contract Interpretation Issues
Who should attend
- Business Development Executives and Managers
- Legal Officers
- Marketing Executives and Managers
- Sales Executives, Managers and Consultants