Contract Lawyers Melbourne
LGM Advisors is a leading Melbourne law firm, professionals in contract law. LGM Advisors have the skills, experience and expertise to ensure that you and your contract matter is consulted upon with the utmost professionalism. Contact LGM Advisors and speak to a contract lawyer today on (03) 9832 0608 or by email at firstname.lastname@example.org.
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What is a contract lawyer?
Contract lawyers are able to assist with any issues that may come about as a result of contracts or contract law. Contracts are part of the bedrock of Australian law; as a result they occur every day in the course of almost all business proceedings. Contracts are composed of terms and conditions that are enforceable through the courts. It is not uncommon for disputes over these terms to arise, especially with commercial or business contracts where large sums of money are involved. Contract lawyers are able to assist with the drafting and revision of contracts and their terms. Obtaining legal advice from Contract lawyers ensures that the agreement protects your interests, and can be performed in a way that benefits all parties involved.
What is a contract?
Contracts are agreements made between parties which can be legally enforced. They can be agreements as simple as a commercial transaction, or as complicated as a document containing many pages filled with legal terms and conditions. Several conditions must be met if a contract is to be legally enforceable, such as:
- The intention to create an agreement which is legally enforceable;
- There must be certainty as to which individuals or entities are bound by the contract;
- One party must have made an offer, which is considered and accepted by another party or parties;
- All parties to the contract have given and received something as a result of the agreement;
- All parties are clear as to their obligations and expectations.
Some contracts are required by law to be written, such as those to do with the sale of land. Many contracts are verbal, with their terms being implied rather than expressly stated.
Contracts that have been entered into because of a misunderstanding or mistake are not enforceable, as this would contravene the requirements set out above and therefore render the contract illegal and void.
Why you need a lawyer to review your contract
A contract may be created, be valid and binding, without having been written or reviewed by a professional contract lawyer. It is this fact that may lead to contracts being breached or becoming impossible to enforce, as the terms of the contract lacked the required specificity and clarity. Obtaining professional legal advice from trusted contract lawyers allows you and your business to avoid the costly mistakes and missed opportunities that arise from a poorly formulated contract.
If you have come to a professional understanding regarding commercial arrangements with another party, you should ensure that a professional contract lawyer assists you in formalising this understanding in a binding contract. Failure to do so may leave you exposed to the unexpected, including costly litigation, before your commercial agreement can be fulfilled. In essence, a contract lawyer’s services represent invaluable insurance for the parties to any commercial agreement. This is achieved by ensuring expectations and understandings are appropriately specified and agreed-upon actions to be taken in the event of any issues are stipulated.
At LGM Advisors, we strive to advise our commercial and business clients of any liabilities or ambiguous terms that may hinder their ability to successfully settle their transactions. If required, we can also negotiate with the other party/s on behalf of you or your business to ensure that your interests are reflected in the contract terms.
A contract is breached when one or more parties do not meet their contractual obligations or perform the contract as required by its terms and conditions. The effected party may wish to bring the case before the courts, seeking to have the contract enforced. The breach may be resolved outside of court, especially if the contract was drafted in way that anticipated any possible disputes. Should the breach lead to legal action, a court may choose to award damages to the party affected by the breach of contract in order to make up for the contract not being honoured. A court may order the offending party or parties to carry out a ‘specific performance’, which would force them to carry out their contractual obligations.
A perfect contract contains clearly and obviously agreed upon terms which are thoroughly understood by all parties concerned. It should also anticipate any potential disputes or issues that may impede the contract’s execution. If this is done, parties to the contract should be able to put the document away and not need to refer to it again, as they are able to properly perform their obligations without issue.
It is likely that you or your business will need to enter or even create a complex contract at some point. It is important that the terms of the contract accurately reflect your interests, but do so in a way which ensures the other party or parties are able to fulfil the contract’s requirements.
Due to the common nature of contracts, the fact that they are similar in structure and often contain similar terms, contract lawyers are usually able to provide a good up-front estimation of any costs involved.