UK businesses of all sizes, and in all sectors, can benefit from a new free information guide that has been launched by Business Companion to give a clear, concise, and up-to-date overview of the key aspects of contract law for their everyday operations.
Understanding the key aspects of contract law is essential for businesses of all sizes to navigate their everyday operations successfully.
It is vital that companies and traders comply with legal requirements, mitigate risks, and protect their interests in commercial agreements.
Contract law basics: Guidance for businesses on the basics of contract law is part of a series of resources published by the Business Companion website on behalf of the Department for Business and Trade. The guide, authored by experts in consumer protection law, aims to equip traders with essential knowledge to navigate the intricacies of contract law effectively. By providing insights into common pitfalls, mistakes, and misunderstandings that may arise in contractual agreements with customers, suppliers, and other businesses, this resource empowers businesses to make informed decisions and uphold legal compliance.
Whether entering into new contracts or managing existing ones, this guide serves as a reliable companion for businesses seeking clarity and guidance in the realm of contract law. It includes definitions of frequently used terminology and the key elements of contract formation, as well as examining the different types of contracts that businesses frequently enter, including those governing on-premises and distance sales.
Both business-to-consumer and business-to-business contracts are covered, as well as postal and online contracts. The guide also looks at what would be considered unfair contract terms and conditions and examines important issues such as a customer’s capacity to enter into a contract.
As well as handy links to further in-depth reading and the relevant areas of legislation, the guide incorporates a useful checklist that can be used by businesses to help ensure that the terms and conditions they use align with best practice and consumer protection law.
The launch of the guide coincides with a series of webinars, hosted by the Chartered Trading Standards Institute (CTSI) and presented by the guide’s author, Jemma Cox. These free two-hour sessions, which will include guidance on the do's and don'ts of writing contracts, will take place on 22 March at 10 am and 28 March at 1 pm. Limited places are available, so to register via the guide as soon as possible to avoid disappointment.
By staying up to date on the latest developments in this legal field, businesses can mitigate risks, protect their interests, and enhance their overall contractual relationships. Whether dealing with suppliers, clients, or partners, having a solid understanding of contract law is crucial for fostering trust, resolving disputes, and maintaining successful business relationships.
The repercussions of making mistakes when designing your contracts could be significant, with the potential for disputes with customers, work not being paid for, legal penalties and time-consuming and expensive remediation costing your business dearly.
To make sure you’re getting things right from the get-go, visit businesscompanion.info today to download the free guide.
About Business Companion
Business Companion is a free online resource produced by the Chartered Trading Standards Institute (CTSI) on behalf of the Department for Trade.
The content on Business Companion is written and verified by expert contributors but is not designed to be a replacement for professional advice and is intended only for guidance. Only the courts can give an authoritative interpretation of the law.
Business Companion covers Trading Standards law for England, Scotland and Wales. For guidance on the law in Northern Ireland, please see nibusinessinfo.co.uk.
Copyright 2024. Story submitted by Business Companion.