About this Course

Almost daily we make contracts. Ignorance is not a privilege. It is a misfortune. Managers, company directors, executives and businessmen need to clearly understand contract law. Now it is even more important to understand how contracts can be made electronically through the email and the world wide web over the internet. Get a thorough understanding of the principles of contract law through this interactive course. Emphasis will be placed on the terms and clauses frequently used in the drafting of contracts, agreements and joint ventures.

Rules on contract drafting will be discussed. Samples of different types of contracts will be provided such as contracts of employment. Participants will learn how to terminate a contract and know the remedies available for breach of contract.

Learn how to conduct your businesses effectively within the laws of business and companies. Case studies and case presentations will be given. Video training materials will also be used to enhance learning.

*Upon completion, participants may progress to attend:

Contract Administration & Management (2-day) and / or

Understanding Contract Interpretation & Drafting Standard Commercial Clauses (2-day)

Course Outline:

Nature of A Business Contract

• commercial contract
  
• gentlemen agreements
  
• oral/verbal contracts and written contracts
  
• who is the reasonable man?
  

Effective Negotiation Skills

• hard vs. soft negotiator
  
• how to negotiate for a successful contract?
  
• Harvard Principled Negotiation Techniques
  

Requirements of a Valid Contract

• distinguish between "invitation to treat" and "offer"
  
• newspaper advertisement and catalogs
  
• intention to create legal relations, domestic and commercial contracts
  
• consideration: sufferance e.g. the price
  
• Contracts (Rights of Third Parties) Act
  
• Capacity to make a contract
  
• minors
  
• mentally disordered and drunkards
  

E-Commerce Contracts

• making contracts via emails and the world wide web on the internet
  
• Electronic Transactions Act & its implications
  

Formalities of a Contract

• expressed terms vs. implied terms
  
• parol evidence rule in written contracts
  
• conditions: fundamental terms
  
• warranties: minor terms
  
• complex terms
  
• breach of conditions & warranties
  

Exemption Clauses

• Unfair Contracts Terms Act
  
• control of exclusion clauses by case law & statutory laws
  
• negligence & damages
  

Factors affecting Contract

• misrepresentation
  
• inducement, sales talk
  
• fraudulent, negligent & innocent misrepresentation
  
• effects of misrepresentation
  
• remedies: rescission & damages
  
• mistake
  
• types of mistakes
  
• mutual mistake
  
• common mistake
  
• unilateral mistake
  
• operative mistake to avoid contract
  
• duress & undue influence
  
• voidable contract
  
• economic duress, loss of profits
  
• illegal contracts & its consequences
  
• void contracts
  
• contracts in restraint of trade
  
• non-competition clauses preventing working elsewhere
  

Discharge of Contracts

• 4 ways to terminate a contract
  
• by performance
  
• by agreement (notation)
  
• by frustration
  
• by breach
  

Remedies for Breach of Contract

• refuse further performance
  
• damages: monetary compensation & awards
  
• how much monetary awards can be claimed?
  
• Rule of remoteness of damage
  
• mitigation of damages
  
• speculative damages
  
• liquidated damages, pre-estimate genuine damages, penalty clauses
  
• specific performance
  
• injunctions
  

How to Resolve Your Contractual Disputes

• negotiations & consultations
  
• mediation
  
• arbitration
  
• mini-trials
  
• litigation & the Legal System
  
• the courts
  
• common law vs. criminal law
  
• contract law vs. tort law (wrongful acts)
  

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