It is virtually impossible to do business today without being a party to a business contract in one form or another.
Contract law applies to almost every business decision and transaction– from negotiating and agreeing Terms of Trade, through to credit arrangements on the payment of invoices.
Business contracts (also often referred to as commercial contracts) are legally binding agreements between two or more parties which state the rights and obligations of those parties concerning a particular transaction, arrangement or other business dealing.
A contract can be verbal or written (sometimes both) and is a legally binding agreement that establishes the terms and conditions which bind the parties. In addition, the law will sometimes imply terms into a contract so it is important to know what these are and when they apply.
Business contracts may apply to one-off transactions or to an ongoing arrangement which lasts for many years.
The types of business contracts that you may come across will vary according to both the scope and scale of your business as well as the market you operate in. Over time your business needs are likely to grow and evolve and we are here to assist you when that happens.
There are many traps and pitfalls in contract law. A Court might interpret a provision in a way which a party might never have expected. A contract might fail because it is not supported by consideration (value). A party might renounce the contract where they have no right to. This is why it is so important to obtain legal advice before entering into a contract under which you incur significant liabilities or obtain significant rights.
Tetlow Legal’s experienced business and commercial lawyers are able to help with the preparation and execution of a wide range of contracts from the small and seemingly straightforward through to larger more complex transactions.
The range of business contracts that we are able to prepare and advise on include:
- General commercial contracts including negotiating, preparing and drafting new agreements or advising and re-drafting existing contracts;
- Contracts for the purchase and sale of a business;
- Shareholder Agreements;
- Unitholders Agreements;
- Partnership Agreements;
- Trust Deeds;
- Contracts for the sale and supply of goods and services;
- Distributor Agreements;
- Agency Agreements;
- Licensing Contracts;
- Terms and Conditions;
- Privacy Policies;
- Employment Contracts;
- Leases including plant and equipment leases;
- Franchise Agreements;
- Commercial and Retail Leases;
- Confidentiality Agreements;
- Loan Agreements; and
- Many more…
Each business contract will have at its core a specific set of parameters, aims, and potential restrictions. Tetlow Legal are adept at negotiating all aspects of contract preparation and negotiation to assist you with achieving your business goals with a minimum of risk.
In business, it is particularly important to have the right advice on hand before entering into a contract or you and your organisation could face significant and far-reaching consequences. We strongly believe that the proper documentation of transactions and agreements can help to prevent issues your business may face down the track. At Tetlow Legal we can draft, negotiate and review business contracts to ensure your rights are protected and that your business can run smoothly.