The session deals with the negotiation and formation of contracts. Topics covered will include an overview of the pre-contractual duties that may arise from contract negotiations; letters of intent; and the formation of contracts and conditions that are often used in relation to that formation, such as ‘subject to contract’, ‘subject to board approval’ and ‘subject to finance’. This session will also address the rules for the inclusion of general terms and conditions in (international) contracts.
Specific attention will be given to international and domestic developments regarding the ‘battle of the forms’, i.e. a situation in which both parties refer to their own general terms and conditions in the contract formation process. A common mistake is that parties often believe that a mere referral to their general terms and conditions on order forms or invoices suffices to make those terms part of their contract. the session will look at how that misconception can have potentially dire consequences.
Participants will learn how to deal with any potential liabilities that may arise out of contract negotiations, including: how to use conditions pertaining to the formation of contracts, how to apply general terms and conditions, and how and when binding contracts emerge.
This course is part of the Commercial Law programme.
Some of the topics covered:
- Negotiation of contracts
- Pre-contractual duties
- Formation of contracts
- Inclusion of general terms and conditions