Key Learning Objectives
- Examine and address current topical issues in contract law
- Review statutory and common law obligations that must be incorporated into contracts
- Develop processes to ensure contract objectives are delivered while mitigating risk
- Review a select sample of contracts clauses to identify responsibility and liability
- Implement drafting changes that improve contract clarity and structure
- Discover how various contract clauses achieve maximum risk management by analysing drafting and testing techniques
- Understand and initiate a review of contractual governance in your organisation
- Design effective methods of dispute resolution and documentation collection
About the Course
First in our contract law series and our CMP certification, this course is designed to address the foundations of contract law in the workplace. Commercial arrangements sealed with signatures or handshakes are part of daily life for most professionals, across all industries and sectors.
They remain good business practice because they’re built on enforceable principles of contract law. Yet with vaguely expressed contracts, unclear offers or acceptance, or even with questions of consideration or undue influence, contractual disputes are still common place.
This course is an intensely practical two-day course that will guide you through the essentials of contract law, exploring such details as when you need a contract, what types of contract exist and the effect of statutory law on your contractual arrangements.
It covers the crucial ingredients required for a good contract, provides tips for understanding contractual material, and looks at the traps and pitfalls of contract drafting.
Contract law also scrutinises what happens when things go wrong, including offering options for assessing damages and remedies for breach, and looks at the contractual implications of working in an e-commerce environment. The instructor will spend detailed time teaching participants how to interpret examples, and take their interpretative and analysis skills back to their workplace.
Who Will Benefit
This practical fundamental course is relevant for ALL those who have dealings with contracts in their everyday business environment and is an excellent grounding for professionals new to dealing with contracts as part of their role –in any industry sector.
This is for people with no or and very little understanding of contract law. It covers fundamentals therefore is designed to give people an introduction to contract law and how it fits into their daily contract management practice.
People with many years of practical experience but no substantive knowledge of the law would find this course very useful as it provides them with a framework in which to place their existing knowledge. People can also use this course as a refresher if they have studied some law earlier in their career.
“I learnt completely new facts. Some existing views are completely changed and the examples presented may have significant effects when I’m able to apply to real life situations.”
Contracts Officer, Optus
“This is my third course with IIR and with each course I learn more about contracting processes and contract law. I also feel like my learning from previous courses is refreshed.”
Warranty Co-ordinator, Origin Energy
The essential ingredients
- Offer and acceptance
- Intention – identify issues with Memoranda of Understanding, letters of intent and letters of comfort
- Certainty of terms – express and implied, agreements to agree
- Contingent conditions
- Consider the impact of ‘good faith’ requirements in contracting practice
- Exercise: A practical problem which highlights how the formation process can lead to problems within an organisation.
- Rules relating to commercial entities
- Agency issues
- Statutory provisions
- Practical steps to overcome capacity issues
Creating legal contracts
- Do contracts always have to be in writing?
- Consequences of non-compliance
- Part performance
- Variations and the rules
- How do you sign a contract?
What kinds of contracts are there?
- The real costs of “sloppy” contracts: learning from the mistakes of others
- Deeds vs. Agreements – what’s the difference?
- What are implied contracts?
- Standard form contracts and other express forms of contract
- Tenders and the legal issues which impact on the tender process
- Exercise: A case study considering problems in a tender situation. This will involve designing a process which avoids the legal and commercial pitfalls in tendering.
Constructing good contracts
- Understanding the form and content of a contract
- What makes a good contract: details and consistency
- The advantages of “Plain English”
- Risk management in contract drafting: exemption clauses and limitations of liability
- Legal issues surrounding indemnities & warranties
- Consider the problems with intellectual property clauses and how to overcome them
- Minimising misunderstanding: traps and pitfalls with drafting clauses
- Tips for effectively reading contracts
- Exercise: Examples of plain English drafting together with a case study which involves an approach to practical drafting.
Estoppel – knowing when & how to use it
- What are the principles?
- Inducement and detrimental reliance
- Exploring when and how to use estoppel
- Estoppel in practice – discussion of case law
- Practical tips to manage estoppel in contracting practice
- Exercise: Case study problem examining estoppel issues in a commercial setting
Statutory impact on contract law
- Trade Practices Act 1974
- Sale of Goods Act 1908
- Corporations Act 2001
- Workplace Relations Act 1996
Setting aside contracts
- Misleading and deceptive conduct
- Duress and undue influence
- Unconscionability – statutory unconscionability
- Exercise: This features a case study examining a contractual negotiation which leads to a contract but which contains clauses based on misrepresentation and mistake. How the law will treat these statements and the impact for the contracting parties is discase study examining a contractual negotiation which leads to a contract but which contains clauses based on misrepresentation and mistake. How the law will treat these statements and the impact for the contracting parties.
- Types of termination
- Consequences of affirmation and termination
Remedies for breach
- Specific performance
- Actions for debt and relief against forfeiture
- Alternative dispute resolution
- How and when damages are assessed
- What if the contract provides for the way damages are assessed?
- Liquidated damages and penalty clauses
- Reliance and expectation losses: damages resulting from “loss of a chance”
- Damages for disappointment, distress and psychological injury arising from breach of contract
- Matters affecting the recovery of damages: mitigation and contributory negligence
- Exercise:This is a case study on damages together with drafting a liquidated damages clause which will avoid the legal pitfalls and encourage use and compliance by contracting parties
Contractual issues in an e-commerce environment
- The contractual implications of e-commerce
- On-line trading, encryption and electronic signatures
- Jurisdiction issues
- The impact of e-commerce on contractual practice
Case study analysis throughout the course
- The course will underpin the legal rules which apply to contracts by using case examples and a detailed case study to suit the participant’s specific needs on the day.
- All case studies and examples will provide an excellent opportunity for participants to apply the legal principles which will assist in the development of organisational systems to promote better use of contracts.
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.