Be exposed to the fundamentals of contract law principles and learn when there is a fundamental breach of a contract and the various options available to an aggrieved party. More importantly, know how to protect your business interests and rights by taking steps to ensure that your business has suitably worded exclusion clauses to limit liability. Be advised on how you can recover the maximum damages due to you in a dispute such as a breach of contract.
What is a contract and how is it different from an agreement?
- Understand when a contract is formed.
- Assess whether a vitiating factor has occurred and the options available when it occurred.
- Develop an appreciation of express and implied terms and to contrast a condition, warranty and innominate term.
- Distinguish between misrepresentation, mistake, undue influence, duress, unconscionability and illegality and the effects on a contract.
- Identify clauses in restraint of trade and the legitimate interests to be protected.
- Recognise the various ways in which a contract may be discharged.
- Differentiate between penalty clause and liquidated damages clause.
- Appreciate the legal and equitable remedies available in the event of a breach of contract.
- Understand how damages are quantified based on concepts of causation and remoteness.
- Recognise when extra-ordinary or secondary losses may be claimed from the party in breach.
- Use of exemption clauses to protect your business interests.