October 22, 2015 | 620 viewsTop 8 Mistakes That Can Make a Contract Void

Don’t be caught out when creating or dealing with a contract.

Our infographic of the month runs through the basics of contracts, and the top 8 mistakes that can make a contract void.

Click the picture to enlarge…

Contract

4 Basic Elements of a Contract

A contract is a legally binding or valid agreement between two parties, which will be considered valid at law only if it contains the following four elements;

Offer and acceptance

Intention to be legally bound

Consideration

Certainty

8 Commons

8 Commons Mistakes Made When Negotiating Contracts

  1. Not engaging a lawyer
  2. Not addressing all contingencies
  3. Relying on generic template
  4. Not paying attention to the details
  5. Insufficient attention to indemnity, title and warranties
  6. Consequential loss of consideration
  7. Innovative default terms ignored
  8. Rushing the process

8 Important Steps in Creating a Successful Contract

  1. Offer and acceptance
  2. Valuable consideration
  3. No unfair terms
  4. Made in writing if required
  5. Intention to create legal relations
  6. Capacity of parties
  7. Certainty
  8. Avoid fraudulent terms

Need help with contract disputes, please get in touch with us.

 

 

 

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