INTRODUCTION :

If you are a business manager or executive who has not had formal training in law, but who has to negotiate, prepare, execute or administer contracts in the course of your work, then this course is for you. You will gain a better understanding of contract law, and how to apply it in practical situations at work, so as to better protect your organization’s legal interests. This course will also benefit you personally, as contract law also affects so many transactions in our daily lives. There will be case scenario exercises where you will learn to apply the law to realistic and practical situations, such as those you might encounter in real life.

TARGET AUDIENCE:

This 2 day course will be of use to all persons at any level in a commercial enterprise that draft, review or execute contracts. In this regard, it is directed to Contract Managers, Commercial Managers and Officers, Sales Managers, Purchasing/Procurement Managers and Officers, Project Managers and Executives, Business Development Managers, Operations Managers Finance and Administration Managers and Company Directors.

DAY 1

Part 1 – Introduction

• Learn that different countries have different legal systems that can affect your cross-border contracts
• Understand that contract law is not static, but develops through cases decided by judges
• Know the importance of both statute law and case law in contracts

Part 2 – Formation of Contacts

• Understand how contracts are properly formed through offer, acceptance, consideration and intention to create legal relations
• Know how to distinguish between invitations to treat and offers
• Are any specific forms and formalities required in making contracts?

Part 3 – Contractual Terms

• You have often used the words ‘terms and conditions’ – but what do they exactly mean?
• Practical things to consider when preparing and administering contractual terms
• The different types of contractual terms and how they affect your legal rights
• Statements made during negotiations and before signing – what legal effect do they have?
• Exemption clauses – their effect and extent

DAY 2

Part 4 – Factors that could affect a Contract

• How vitiating factors affect contracts
• Learn various vitiating factors such as misrepresentation, illegality, and mistake

Part 5 – How a Contract May End

• Know the various ways in which contracts may be discharged – i.e. terminated
• Force majeure – what are ‘Acts of God’ and how could they affect contracts?
• When you may terminate a contract without fault in certain cases where the other party has breached the contract very seriously

Part 6 – What if a Contract is Breached?

• What are your rights when the other party breaches a contract?
• The issues that affect claiming of monetary compensation (i.e. damages) if the other breaches the contract
• The concept of liquidated damages

Part 7 – Resolving Contractual Disputes

• The litigation process
• Things to consider before taking another party to court
• Alternative dispute resolution methods, including arbitration

Part 8 – International Contracts

• If there is a contract between parties in different countries – whose law should apply?
• The concepts of governing law and jurisdiction of courts