Contract Law
A contract is a set of promises that the law will enforce.[1]
The offer must be made by one party and accepted by the other.[2]
For a legal contract the one making the offer must have title, there must be the intent to do business, and consideration must be paid.
This is a simplified description of the process of creating a contract under Contract Law, or indeed, doing business.
Contract Law applies to everything: partnerships, the purchase and sale of a business, succession planning, real estate deals, the sale of goods and services locally and imported, purchase of supplies for manufacturing, employment, insurance, and so on.
To keep things straight and the exchange fair and legal so everyone walks away happy, a lawyer can help set out the terms and conditions of the contract that follow civil rules of procedure.
Sometimes things don’t work out, one party may be in breach of contract, and legal assistance is required to untangle the threads of what went wrong, determine liability and work out the remedy.
It helps when the lawyer has long term relationship with his client and understands him because it makes contract negotiation easier and problems can often be prevented.
With over 30 years experience in the law, Guy Farb has considerable negotiating skill and knowledge in contract law.
[1] Smyth and Soberman The Law and Business Administration in Canada Third Edition Prentice-Hall of Canada, (Scarborough, Ontario 1976) p. 93
[2] ibid