In earlier days, when there were no contracts, what problems do you think reached the court the most? Well, the issues related to disputes between business partners were one of the topmost cases before the law courts. Why did this happen? The reason was, in the absence of well-defined rights and responsibilities, conflicts arise between the partner companies. Therefore, the learned people came up with an idea of introducing the concept of business contracts to the world. These contracts specify the obligations and privileges of the parties involved. Well, they make the company's work easier, but, drafting these contracts is not at all easy for the students studying corporate law. Many of your peers come to us in the need of corporate law assignment help for the same reason.
If you’re also here because you find composing the business contracts tough, then reading this blog is the only thing you are required to do. Pondering why? Well, this is so because, here we will familiarize you with the best step-by-step guide, formulated by our expert professionals, to draft even the toughest contracts effortlessly. Are you excited to get acquainted with it? We know you are. Go through the next segment of this piece of writing with the utmost concentration to get familiarized with this fabulous guide.
The Ultimate Guide to Write the Business Contracts in Corporate Law Assignment
What is that thing you fear the most? We think it is the deadline. Since the submission date is around the corner, we cannot afford to waste your precious time. Therefore, without beating around the bushes, let's come to the point. Here are the steps you require to compose the business contracts effortlessly and get the grade of your dreams. Read them without letting anything distract you.
Step # 1 Identify the parties involved:
There are two parties to every legally binding contract, namely the contractor and contractee. Therefore, the first step of writing business contracts is to discern the parties involved in the agreement.
Step # 2 Write the basic details:
After identifying the parties, the next step is to write the basic information. While writing it, mention the contract's title, party's names, designation, and the company's address. Give these details in the following format.
Contract Of Business
Mr. U, CEO, XYX Company(hereinafter called contractor), situated at, ABC Block, Melbourne
Now that you have provided the basic information, the next step is to give the details of goods or services that both the parties mutually agree to exchange with each other. Write this in the following manner.
"Through this contract of business, the contractor agrees to provide 100 biscuit packets per month to contractee. It will charge a price of $20 per packet for a total of $2000, which the contractee shall pay in full before the expiry of 30 days from the date of delivery."
Step # 4 Write the confidentiality clause:
What is the characteristic feature of business contracts? Well, they include a confidentiality clause, where both the parties promise to not disclose the terms of contract and information about each other's businesses to any third party. Therefore, write this clause in the following manner.
“The contractor and contractee hereby agree that they shall not disclose any secret business information or the terms of this contract to any third party.”
Step # 5 Specify the dispute resolution mechanism:
Although the contract clearly describes each party's rights and obligations, still the possibility of disputes cannot be ruled out. Therefore, the fourth step of business contract writing is to specify the mechanism through which the companies will resolve future conflicts, and how the related costs will be paid by them. You can write it in the manner as follows.
"In case any dispute arises between the contractor and contractee, then they agree to solve it with the help of alternative dispute resolution mechanisms. All the related expenses shall be borne by both the parties equally."
Step # 6 Specify the grounds of termination:
Termination is also one of the crucial factors to be included in the business contracts. Therefore, here you are required to specify when and how the contract between the parties will get terminated, i.e., end. For example, the contract may terminate if any of the parties breach the terms and conditions or the stipulated period expires.
Step # 7 Go through all the clauses:
Now you can take a deep breath and relax. Pondering why? Well, this is so because finally, you have reached the last step of business contract writing. Yes, what you heard is not wrong. Here the only thing you are required to do is, go through all the clauses of the agreement to make sure that they are correctly written, and there are no grammatical, logical, factual, or any other errors. In case you spot an error, then take corrective action as soon as possible.
Is the above-mentioned handbook enough for you to compose the business contracts? Well, in our view it is. But, if you think differently or require any other assistance to write the document, then feel free to contact our experts to avail the top-notch assignment writing services in the town. Wondering why trust them? Well, they are experienced academic writers having an experience of more than 10 years and have helped many students achieve their dream grades.