Did you know that business contracts (often referred to as commercial contracts) are typically the backbone of every successful business deal? They are there to make sure there is clarity and trust among all parties involved.
Here is our essential guide on all things business contracts:
It’s important to recognise that contracts aren’t just paperwork - they are legally binding agreements outlining what each party promises. In NSW, these agreements are governed by laws that ensure fairness and enforceability. They may apply to one-off transactions or to an ongoing arrangement that lasts for many years.
Here are 5 things that make a contract valid:
A clear proposal outlining what’s on the table.
Both parties agree to the terms without reservations.
Something of value, like money or services, is exchanged between parties.
Everyone involved understands and accepts the terms.
Both parties intend for the contract to be enforceable by law.
Businesses engage in various types of contracts to manage relationships and transactions, such as:
Each contract serves to define responsibilities, pricing and risks involved.
At DGF Morgan, we go beyond traditional legal services to become your partner in achieving business success. Our team offers expert legal guidance to navigate complex landscapes and to ensure your agreements are legally sound.
Here are just some of the ways we can help:
Call us on (02) 9262 2077 for immediate assistance or email with your inquiry and our team will respond promptly.
.svg)
