Contracts are a necessary part of business – but can present major risks. When they are done well, they are an asset to your business.
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As a business owner, you’re making contracts almost every day, whether they’re in writing or not. Most businesses would not run if it weren’t for the frequent contractual agreements they enter into. Offers are made and accepted either in writing, by verbal agreement, or by conduct. These are all legally-binding types of contract, but written ones offer the best protection should any party wish to take legal action following a breach of contract.
Contract law is complex. It is advised that all contracts are made in writing to protect business interests. Written agreements are the most likely to prevent lawsuits from arising. However, sometimes contracts are drawn up without the proper knowledge of legislation which implies terms into a contract. Both parties might be unaware of this legislation until a dispute arises.
To remove all ambiguity from your contracts and ensure their terms are clear and legal, consult with Helix Law’s contract lawyers before you set a deal into motion.
Commercial Contracts
As a business owner, you’re making contracts almost every day, whether they’re in writing or not. Most businesses would not run if it weren’t for the frequent contractual agreements they enter into. Offers are made and accepted either in writing, by verbal agreement, or by conduct. These are all legally-binding types of contract, but written ones offer the best protection should any party wish to take legal action following a breach of contract.
Contract law is complex. It is advised that all contracts are made in writing to protect business interests. Written agreements are the most likely to prevent lawsuits from arising. However, sometimes contracts are drawn up without the proper knowledge of legislation which implies terms into a contract. Both parties might be unaware of this legislation until a dispute arises.
To remove all ambiguity from your contracts and ensure their terms are clear and legal, consult with Helix Law’s contract lawyers before you set a deal into motion.
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Business Contracts
There are several types of contracts that are used day-to-day within business, including:
- Non-disclosure agreements – also known as NDAs or confidentiality agreements. It is recommended that you speak to a legal advisor while drafting an NDA to avoid making mistakes that could render it invalid.
- Services agreements – whereby a supplier and a customer agree to the terms of a company providing a service for the customer.
- Subcontracting agreements – if a main contractor needs help fulfilling a job, they can enlist subcontractors. First, both parties must agree to the tasks delegated to the subcontractor, how much time they have to fulfil them, and how much they will be paid. There should also be clauses detailing what should happen if there are changes made to any of these factors or the work done is defective.
As with any contract, these should be put into writing to provide proper legal protection and ensure all parties understand and agree to their obligations. To remove any possible ambiguity in your contract’s terms, consult with Helix Law’s expert contract lawyers.
Employment And Freelance Contracts
Employment contracts are offered by an employer to an employee stating the terms of their employment relationship. It usually details things like pay, working hours and holiday allowance. Most employees are legally entitled to a contract of employment, which should be issued within two months of the commencement of their employment. An ‘employment contract’ is in effect started when the employee begins work, whether they have signed a written contract or not.
Freelance contracts are issued by a freelancer to their client. A freelance contract should lay out the work that the freelancer is to fulfil for the client, when the work will be completed, how much the freelancer should receive in payment, and when they should be paid. Having a contract helps to ensure that the freelancer gets paid the full amount for their work and sets a deadline for payment.
Employers or freelancers looking for help with constructing contracts or who are facing issues with clients or employees can contact Helix Law.
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