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Contract Law

Many people believe that for a 'contract' to exist, there must be some form of signed agreement, with careful legal drafting, witnesses and so on. However, it is important to understand that there is no distinction in law between a 'verbal contract' and one that is written down, the only difference is that in practice, it is of course more difficult to prove the terms of the agreement. Therefore, it is recommended that any agreement made by you as an individual or by a company is done, or is confirmed in writing, even for minor variations to a prior written agreement. Such agreements should ideally be drafted by a solicitor, because, even though a standard format is usually not required, an experienced solicitor can point out common pitfalls or areas of contention relevant to your situation.

There are certain types of contract, such as a contract for employment, or agreements to purchase land, that are regulated by statute, but generally parties are free to agree whatever terms they wish. In the event that the terms of a contract are not carried out (breached), a solicitor can help to ensure that the innocent party is restored to the position they would be in if the contract were carried out, usually via compensation. In certain situations, where it can be proven the contract is impossible to perform, the contract can be declared 'frustrated', meaning that both parties are returned to their position before any contract was agreed. However, a solicitor's advice is required before either party should decide to follow either route.

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