Fundamentals of English Contract Law
The aim is to provide delegates with an awareness of the fundamentals of English Contract Law.
By the end of the module, delegates will have been afforded an
opportunity to gain an understanding of a range of principles which
will assist them to avoid costly errors in both the pre-contract
negotiation and the post agreement implementation. The training will
assist delegates to understand the necessity of ensuring that all
contractual commitments are deliberate and duly recorded and that the
commercial risks have been identified and mitigated. The delegates will
understand the difference between contract formation and contract
effectiveness and the need for effective change control. They will be
able to identify the rights and obligations of the buyer and the seller
as well as recognising the traps for the unwary such as the incorrect
use of terms such as "best endeavours", "time is of the essence" and
"fit for purpose".
The topics covered include:
- Contract formation – offer, acceptance, consideration & intent
- Invitation to treat, offer, counter-offer, Battle of the Forms
- Offers - Lapse, expiry withdrawal
- Pre-contract negotiations - Letters of Intent, Instructions to proceed, Subject to contract or Subject to terms of contract?
- Acceptance - Postal rule, Terms of acceptance
- Contract Effectiveness - Conditions precedent & subsequent
- Third Party Rights
- Terms of the contract
- Express – eg Force Majeure, Common Law warranty
- Implied – SOGA, HASAWA
- Essential terms; Desirable terms
- Handling Variations
- Closing out the contract
- Default & Frustration
- Remedies & Damages - liquidated/unliquidated
- Closing out the contract (project)
The module is scheduled for 1 day.
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