A core part of our legal services involves drafting, reviewing and revising commercial contracts for our clients. Contracts can be complicated and full of legalese, so it is always recommended that parties receive expert legal advice.
Our commercial law team at MatthewsFolbigg Lawyers are ready to prepare or review your commercial documents and to advise you on the risks and opportunities they pose.
What is a contract?
A contract can be either written or verbal provided it has the following essential elements:
- agreement between the parties on the terms of the contract
- intention by both parties to create a legally binding relationship
- consideration (in other words, something of value exchanged for the promise)
- certainty as to the terms
The parties to the contract must have capacity to contract (e.g. they must be over 18, be of sound mind etc.). Legal entities such as corporations also have the capacity to contract.
What is a deed?
A deed is a type of agreement where there is no consideration in return for the promise. An example would be a deed of guarantee provided by a director in support of the contractual obligations of his/her company.
Deeds must be witnessed by a third party.
What kinds of contracts do you draft or review?
We review all types of contracts including:
- Agency and distribution agreements
- Business ownership agreements (e.g. shareholder agreements, unitholders’ agreements and partnership agreements)
- Confidentiality and non-disclosure agreements
- Deeds of guarantee and indemnity
- Deeds of settlement and release
- Financing and loan documents
- Franchise agreements and disclosure documents
- Heads of agreement/letters of intent
- Licensing agreements
- Joint venture agreements
- Procurement and supply agreements
- Sale of business agreements
- Share sale agreements
- Security agreements (e.g. mortgages)
- Technology transfer and licensing agreements
- Terms of trade
- Trust deeds
What will our advice involve?
Depending on your requirements, we can provide you with a comprehensive summary of your rights and obligations under the contract. Alternatively, if time and cost are a factor we can provide you with a ‘high level’ review where we highlight the major legal and commercial risks.
Clients are advised to pay particular attention to:
- covenants and undertakings
- guarantees and indemnities
Where possible, we always advise our clients to conduct due diligence on the transaction, and to take steps to limit their liability and risk exposure.
How can we help?
MatthewsFolbigg’s commercial law team are experts at drafting, reviewing, negotiating and revising commercial contracts for our clients.
Our team of solicitors, including accredited specialists in business law, will provide you with practical and succinct legal advice and assistance.
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We serve all of the legal needs of individuals, government and businesses, regardless of their complexity, throughout all of Sydney and beyond.
We are industry leaders, and we never lose sight of the outcome that you want. We guide you through the legal process to achieve that outcome.
Our growth and our success, comes from the growth and success of our clients.