A contract exists when two or more parties have entered into an agreement for some form of ‘benefit’ (known in legal terms as “consideration”). There must be an ‘offer’ by one party and an ‘acceptance’ by the other party in order for the contract to come into force.
A contract can come to an end in a number of ways. These include:
- the agreement being successfully completed;
- one party failing to meet its obligations under the main terms of the contract – the party in breach can be sued for this;
- one party withdrawing from the contract – there is usually a penalty for this;
- the parties agreeing to terminate the contract.
We can assist in ensuring that you are able to successfully conclude the terms of a contract and are fully aware of your obligations under the contract but if things go wrong we can also help you to resolve any problems arising.