Commercial Contracts - An Introduction

Overview

On this half day course you’ll examine key issues surrounding commercial contracts and learn the practical pitfalls that are frequently encountered.

It’s ideal if you have little or no experience in drafting or interpreting commercial contracts.

Who is this for?

This course is for anyone looking to build a base understanding of drafting and interpreting commercial contracts. It's highly relevant for:

• Paralegals
• Apprentices
• Trainee solicitors
• Qualified solicitors (1-5 years PQE)
• Legal execs

It's also beneficial to professionals working in:

• Procurement
• Business development
• Sales and marketing
• Finance

What will you learn?

This half day course will help you understand and discuss issues around commercial contracts. Topics include:

• Contract formation – how are the courts interpreting issues relating to offer, acceptance, consideration and intention to create legal relations?
• Quasi-contractual agreements – what are these documents and how should they be used?
• Contract interpretation - how will the courts resolve disputes over interpretation?
• Contract drafting – what are the key considerations and compromises that apply when drafting clauses relating to price and payment, warranties, indemnities and termination?

Emphasis is placed on a commercially sound and compliant approach to these topics and the course will involve a series of practical exercises analysing each of the areas covered. Group feedback will be given.

How does this help your career?

By the end of this course you'll return to work with the skillset to draft clauses and understand work on commercial contracts, which will open up new career paths. You'll be able to:

• Identify the legal formalities required for contract formation
• Consider contract interpretation issues
• Recognise the consequences of quasi-contractual agreements
• Understand the practical issues relating to this area through consideration of relevant case law
• Draft the following clauses bearing in mind the relevant commercial and legal considerations:
  • Price and Payment
  • Term
  • Termination
  • Consequences of Termination
  • Warranties
  • Indemnities

Please note: Boilerplate clauses are those standard clauses, common to most contracts, which tend to be incorporated without much thought when there is pressure to get a contract or deal done. However, failure to include appropriate boilerplate clauses or amend standard clauses to suit your client’s instructions, can create problems if a deal isn’t successful.

If you wish to find out more please click the link.

PSC Elective

This course may be taken as a PSC elective, although it may also be attended by non-trainees.

SRA competencies

B, C

Other related courses

Contract Law - Effective Boilerplate Clauses – Delivered on the same day, straight after the Introductory course

Commercial Contracts - The Next Step

Commercial Contracts - The International Perspective

Sale & Supply of Goods & Services - The Essentials