Contracts form the foundation of countless business and personal relationships. While the term “contract” is broad, specific types of agreements serve distinct purposes. Sales, employment, and leases are among the most common, outlining the terms…
So far, we’ve explored different types of mistakes that can impact a contract’s validity. Now, let’s discuss the potential remedies available. 1. Rescission: 2. Rectification: Choosing the Right Remedy: The appropriate remedy depends on the…
This blog post series has explored different types of mistakes that can impact the validity of a contract. Today, we’ll differentiate between common mistakes and unilateral mistakes. Common Mistakes: Unilateral Mistake: Key Distinction: Additional Note:…
The exciting world of contracts can involve preliminary steps before a binding agreement is reached. Declarations of intention are one such concept, and understanding their role is crucial during negotiations. Declarations of Intent: A Promise…
Negotiation is a cornerstone of deal-making, and sometimes, an agreement precedes the actual agreement. This is where “contracts to negotiate” come into play. These contracts establish a framework for discussions without creating a binding deal…
The world of contracts thrives on clear agreements. However, there are situations where parties agree to negotiate or enter a future contract, but the present agreement itself lacks the teeth to be legally binding. This…
The world of business and law involves a variety of documents, each serving a specific purpose. Let’s delve into three key terms: Proposals, Letters of Comfort, and Declarations of Intention. Proposals: Putting Your Plan on…
The exciting world of business deals often starts with preliminary agreements that pave the way for the main contract. Two key players in this act are Heads of Terms (HoTs) and Letters of Intent (LOIs)….
Contracts are the building blocks of countless agreements, but what happens when the foundation is shaky? Several factors can render a contract voidable or void, meaning it can be challenged or even cancelled. Here’s a…
