Tag: Contract Law

There are some definite advantages to putting Agreements in writing. It is recommended that Agreements involving large sums of money or assets be put in writing and signed by the parties. Family agreements should also be put in writing to minimise misunderstandings or disputes which may potentially arise later between family members.  We all know […]

When drafting an Agreement, it is important to positively and clearly identify each person who is a party to the Agreement. Commonly, this is done by stating each person’s full name, current address and occupation. Individual A party can be an individual, for example: Mia Francesca Moran, of 3 Poinciana Avenue, St Leonards, North Sydney, […]

There is a mistake in the terms of my contract.  Can a contract be varied, rectified or ended if there is a mistake in the contract and under what circumstances? Yes, sometimes factors exist which will impact on an otherwise valid contract. Sometimes, where there is a mistake concerning a fundamental matter, the mistaken party […]

The issue of consideration goes to the very foundation of whether a contract has been validly formed and is enforceable.  If there is no consideration, then there may be no enforceable contract. So what does this term “consideration” mean? If we look at most legal agreements, we can see that the agreement is usually made […]

It might seem very basic, but it is vital to record the names of the “parties” correctly when drafting a legal document. Even though you might not normally address someone quite so formally in conversation or a letter you should still use their full name rather than a shortened version. For example, use “Dr. Robert […]

It might surprise you to know that a contract does not have to be in written form to be legally binding – although, it may be harder to prove what has been agreed to in verbal agreements. Ordinary day-to-day or business discussions or transactions may, in fact, constitute a legally binding agreement.  Examples of these […]

Sometimes, the performance of terms under a contract does not go smoothly and you may wish to terminate the agreement. The right to terminate a contract can arise from a variety of circumstances, either under the agreement itself or at common law.[1] Your right terminate will be highly dependent on both the terms of your […]

If a rift or misunderstanding occurs in a business arrangement usually the last line of defence you have is a duly “signed” and dated legal agreement. However, whether you “legally” come out on top or not ALL depends on how well the legal agreement was drafted in the first place. The new Breakthrough Legal Guide™ […]