Contracts are legally enforceable agreements between two or more parties. This means that if one of the parties breaks the contract, the other party can take legal action against them.
Businesses often enter into contracts, for a range of goods and services. Often, an exchange of money is involved.
Written contracts have terms and conditions that set out the rights and responsibilities of all parties to the contract.
For a contact to be legally binding, there are a number of criteria that must be met:
- An agreement
- Intention to create legal relations
- Capacity to contract
- Compliance with any legal formalities.
Get in touch!
At TGB Lawyers, we can advise you on any aspect of contract law, from the creation and drafting of the contract, monitoring the performance or adherence to contract terms, and if it comes down to it, we can assist with contract termination, and any potential legal remedies if a breach of contract has occurred.