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This Skill Bit talks about Implied terms as unwritten contract rules inferred by law to ensure fairness and functionality. These terms can be based on statutes, common practices, or the specific situation. Consulting a lawyer to create a clear contract that minimizes reliance on implied terms is recommended. Duration approx. 5 Min. Tier: advanced
This Skill Bit talks about subcontracting which allows a main contractor to hire a subcontractor for specific parts of a project. A subcontract is formed, but the main contractor remains responsible for overall project delivery. Subcontracting is common in various industries for leveraging expertise and managing workloads, but legal considerations and clear communication are essential….
Privity of contract Skill Bit limits rights and obligations to those who sign the contract. Third parties are usually excluded, but exceptions exist for intended beneficiaries and situations outlined by law. Consulting a professional for complex contracts is recommended. Duration approx. 4 Min. Tier: advanced
This Skill Bit talks about the remedies for a contract mistake including rescission and rectification. Rescission undoes the contract, returning parties to their pre-contractual positions, typically used in mutual or unilateral mistakes. Rectification corrects the written agreement to reflect the true intentions of the parties, addressing clerical or typographical errors. The choice of remedy depends…
This Skill Bit talks about the differences between common mistake and unilateral mistake. A common mistake involves both parties sharing a misunderstanding about the contract’s subject matter, affecting a fundamental aspect. A unilateral mistake occurs when only one party is mistaken about the terms or identity, with the other party potentially exploiting this error. The…
This Skill Bit talks about a unilateral mistake that occurs when only one party is mistaken about a key aspect of the contract, such as its terms or the identity of the parties. The other party is aware of the mistake and takes advantage of it. Unilateral mistakes typically do not cover errors about the…
This Skill Bit talks about a mutual mistake that occurs when both parties share a misunderstanding about a fundamental aspect of the contract. This misunderstanding negates their consent, resulting in no true agreement. The contract is considered void or voidable due to the lack of genuine consensus, often involving incorrect beliefs about the subject matter’s…
This Skill Bit shows a common mistake, which occurs when both parties share a mistaken belief about a fundamental aspect of a contract. This mistake must not be reflected in the written agreement, relate to a core aspect, be shared equally, involve unallocated risk, and make the contract’s performance impossible, thus potentially voiding the contract….
This Skill Bit includes these types of contract mistakes: common, mutual, and unilateral mistakes, which involve errors about fundamental aspects of the contract. Mistakes can concern facts, terms, identity of parties, or law. These errors can render a contract void or voidable if they significantly impact the agreement, releasing parties from their obligations if the…
Certification course This course “Contract Management Onboarding” emphasizes the comprehensive nature of the role, highlighting key responsibilities like contract development, negotiation, and compliance monitoring. It stresses the importance of legal acumen, analytical, and communication skills for effective contract management, ultimately enhancing organizational efficiency and reducing disputes. Estimated Duration: 290 Minutes Tier: Advanced Click here…
Certification course Course “How to Deblock Negotiations” offers professionals strategies to resolve negotiation stalemates. It focuses on effective techniques to navigate through and unlock deadlocked discussions, ensuring that agreements are reached smoothly and effectively. The content is tailored to enhance the skills of negotiators in achieving favorable outcomes while maintaining productive professional relationships. Estimated Duration:…
Certification course In “Tactics in Negotiations,” key methods are highlighted for guiding discussions towards favorable outcomes. It emphasizes the strategic use of various psychological and communicative techniques to influence the other party, aiming to secure a successful deal through calculated maneuvers and adaptive approaches. Estimated Duration: 300 Minutes Tier: Advanced
