Commercial Agreements

 

Commercial agreements are contracts between two parties which mostly relate to a commercial issue. There is no requirement for commercial agreements to be written. The main distinguishing factor of commercial agreements is that such contracts are viewed as intending to be legally binding (unless terms specifically stating the opposite are found in the contract). This is not the case for non-commercial agreements.

Commercial agreements may arise between two commercial parties or a commercial party and an individual, but it is unlikely to arise between two private individuals. The reason for this distinction is one of policy. An agreement between two companies, such as a wine distributer and a restaurant, should be enforceable in law. Commercial agreements should also arise between a restaurant and its clients, so that the restaurant will be able to rely on the courts if customers refuse to pay. However, if non-commercial agreements were also legally binding, family members would be able to sue each other when disputes arose.

It is more than likely that you have been a party to hundreds of commercial agreements. If you have experienced complications regarding any of these and are considering legal action, there are a few things to keep in mind:

1)  Legal action should be brought within 6 years of the breach of the agreement

2)  If the agreement was not written by a professional (or not written at all), it may be difficult for the court to establish the exact intention of both parties. Establishing the intention of the parties is crucial to the court’s interpretation of the contract

If you would like to obtain legal advice on commercial agreements, Caven can put you in touch with a local Commercial Solicitor free of charge. So, if you have any questions or would like our help in finding local Commercial Solicitors please call us on 08001 221 2299 or complete the web-form above.

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