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Making a Contract in English – English for Business

Published on March 1st, 2020 | Last updated on July 22nd, 2022 by | Category: English Vocabulary in Context | No Comments on Making a Contract in English – English for Business | 110 Views | Reading Time: 3 minutes

Making a Contract in English

Making a Contract in English

Dealing with contracts is part of running a small business. You will have a number of business relationships involving some type of contractual commitment or obligation.

Contracts can be verbal (spoken), written or a combination of both. Some types of contract such as those for buying or selling real estate or finance agreements must be in writing.

Source: https://www.smallbusiness.wa.gov

As globalization progresses, the number of “international” marriages grows. However, it should be remembered that marriage is, first and foremost, a legally binding contract which has many consequences and that additional requirements may have to be met if the ceremony is performed abroad.

Source: https://www.auswaertiges-amt.de/

This case is a timely reminder that, even when there is written agreement, that agreement may not be binding. Parties should carefully consider whether they wish to immediately enter into a binding agreement, or only enter binding relationships at a time in the future. Terms suggesting that the agreement is ‘subject to contract’ or ‘subject to the contract being executed’, would generally mean that there is no binding contract before the execution of an agreement in its final form.

Source: https://hallandwilcox.com

Termination of contract is an act that may occur wherein a contract can be legally terminated before the contractual duties have been fulfilled. Parties may choose to terminate contracts for a variety of reasons, but not all terminations of contracts will allow them to escape liability.

However, some instances of contract termination will result in making the contract void altogether. Termination of contracts is governed by contracts laws, which means the law may vary according to your local state and jurisdiction.

Source: https://www.legalmatch.com/

Contract negotiations typically focus on revenue and risks. But clearly, some revenues and risks are more important than others. When you negotiate, you need to know what your top priorities are — usually the business or money-making opportunity offered by the deal — and how your other priorities rank below that. This will help you keep your eyes on the prize and avoid getting bogged down in issues that are not as important to you.

Source: https://www.nolo.com/

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