Legal and Contracts Management
Contract Law For Non Lawyers
Overview:
Introduction:
By deciphering complex concepts into manageable terms, this workshop provides non-lawyers with a foundation in contract law. Participants will gain a basic understanding of contract formation, negotiations, potential pitfalls, contract content including exemptions and terms as well as ending contracts and contract terminations and breaches.
Course Objectives:
At the end of this course the participants will be able to:
- Understand contractual terms and their impact on the business
- Explore key elements of commercial contracts
- Analyze commercial risks and opportunities in terms of your own business environment
- Be able to propose appropriate means to mitigate risks
- Discover how to review third-party contracts effectively
- Learn how to identify areas that require specialist legal advice or Board-level approval
- Find out how to use internal or external legal resources more effectively
Targeted Audience:
- While this course would especially benefit those who come into contact with contracts, it is for anybody wanting to gain a basic understanding of contract law.
Course Outlines:
Unit 1:
- Objectives for today - setting out our objectives for delegates and their benefit to your business
- A Memory Game - get those grey cells working!
- Exercise: Buying a commodity
- Consequences of Confusion - the pain of getting it wrong
Unit 2:
- Defining Commercial Relationships - the fundamental markers
- Exercise: Define a typical deal for your business
- Exercise: Which legal terms define each area of the relationship?
Unit 3:
- Who Does What When?
- Vendor Responsibilities
- The importance of clear specifications and change control
- Purchaser Responsibilities
- Delivery
- Intellectual Property
- The importance of timing
- When Does Payment Occur?
- Defining Milestones
- Good Acceptance Criteria
- Readiness for Invoicing
- Taxes and other payment headaches
Unit 4:
- Exercise: Comparing vendor and purchaser acceptance provisions
- What Happens if Things Go Wrong?
- Warranties and warranty remedies
- Limiting liability
- Indemnities
- Confidentiality
- Liquidated Damages
- Applicable law and dispute resolution
- Termination
- Survival provisions
Unit 5:
- Exercise: Comparing vendor and purchaser warranty provisions
- Exercise: Finding your way around a contract
- Recap: Review of key contract components
- Review of Objectives
- Introduction to Online Training Resources