Contracts form the basis for your relationship with the other partie(s). It always pays dividends to have it reviewed, tailored and negotiated by a senior contracts lawyer who is both commercially astute and experienced from a legal perspective. This will significantly enhance your interests and position both during the transaction or process. In addition, it will pay for itself if, as is so often the case, things do not go exactly as planned.
Don’t just rely on templates purchased online
Templates are called templates for a reason and they have not been tailored for your needs. Don’t simply rely on basic templates bought online but have their reviewed and tailored by a lawyer. Invest in your transaction and future. Ensure you interests are protected. Contact an experienced contracts lawyer in Sydney for a fixed fee quote.
Conduct regular reviews of your contracts so they remain optimised
Seek early advice from a contracts lawyer when in dispute as this can determine the outcome
It is important that you seek independent legal advice before deciding to take or not take any action which may be adverse to the other parties’ interests. You need to ensure compliance with the contract and the general law. Whether or not a contract is void, or whether or not you can exit a contract, terminate it, treat it as having never existed, or recover damages for breach are all questions of law. Getting advice from a contracts lawyer early ensures you don’t make a costly, irreversible, mistake.
WHAT ARE THE REQUIREMENTS FOR A CONTRACT?
The requirements are (1) an offer (2) acceptance (3) consideration (4) an intention to create legal relations. Note also that some contracts must be in writing. However in many cases, contracts can be made orally.
WHAT ARE THE REMEDIES FOR BREACH OF CONTRACT?
The short answer is it depends on the circumstances and whether the term being breached is sufficiently serious. The remedies include injunction / specific performance, accept repudiation, termination and damages. Note also that there may be other causes of action e.g. in equity or tort which may be available so get advice as early as possible.
LIMITATION PERIOD FOR BREACH OF CONTRACT
Generally you must file your claim for any breach of contract within 6 years of the date of breach however in some forums such as tribunals you may be required to do so within 1 year. In addition if you are also relying on other causes of action such as negligence, then you may need to file your claim within 3 years. It is important you seek specific advice on this early.
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