An Introduction to Commercial Law & Contract Language

Overview

contractCommerce depends on contracts. Every sale of goods or supply of services involves a contract. Some contracts are so straight forward there is no need to worry about the law, but gone are the days of the handshake as the only evidence of agreement. In the business world today any deal no matter how small can raise difficulties of legal rights and wrongs, for example, are you bound by what your representatives say, are you sure you have reached agreement on all points, are the terms clear, are they what you wanted, are you liable if the other party lets you down, and if they have, what and how much can you claim?

Without a clear understanding of the law you risk heavy losses. This programme is designed to help you understand these fundamentals as either a customer or supplier to avoid exposing your company.

Target Audience

his workshop is designed for Commercial Executives with a non-legal background who need to understand the legal implications of contracts and agreements which they work with on a daily basis. It would therefore be beneficial to:

  • Newly appointed Contracts and Commercial Executives.
  • Business Development Personnel
  • Sales, Procurement and Marketing Professionals
  • Project Managers

Learning Objectives

Upon completion of this workshop participants should be able to:

  • Identify the basic principles of Contract Law.
  • Discuss the significance of some of the common terms found in commercial contracts highlighting their practical implication.
  • Identify ways of avoiding pitfalls to ensure they have a binding contract.
  • Analyse some of the problems in performance which may affect their rights or responsibilities under the contract, with particular reference to breach of contract and the remedies available.
  • Enhance their knowledge of Commercial Contract law and language and be able to construct more effective agreements.

Programme Outline

(1) Introduction

  • Sources Of Law
  • Common Law
  • Statute Law

(2) Achieving an enforceable contract.

  • The Five Essential Ingredients
  • Intention to create a legal binding contract
  • Offer
  • Acceptance
  • Valuable Consideration
  • Capacity

(3) Intention to be bound

  • On whose terms?
  • Can advertisements and sales literature be binding?
  • Certainty of Terms - the effect of estimates, quotations, subject to contract, agreement in principle, heads of agreement, memorandums of understanding, letters of comfort and letters of intent.

(4) Offer and Acceptance

  • Invitation to Treat
  • Forms of Acceptance
  • The effect of Contradictory sales and Purchase terms

(5) Valuable Consideration

  • Buying a promise
  • Reliance and Estoppels

(6) Form of Contracts

  • Writing Desirable or Essential
  • Express and Implied Terms
  • Conditions and Warranties
  • Repudiation or Damages
  • The difference between contracting with an individual as opposed to contracting with a company

(7) Specific Clauses found in Commercial Contracts

  • Entire Agreement
  • Quality ,Fitness and Statutory Terms on Product Liability
  • Acceptance Clause
  • Time Clause
  • Risk and Retention terms
  • Exclusion Clause
  • Termination Clause
  • Arbitration and Alternative Dispute Resolution Clause
  • Choice of Law Clause
  • Intellectual Property Clauses
  • Confidentiality Clauses
  • Bribery, Corruption and Unethical Conduct Clauses
  • Indemnity Clauses

(8) Avoiding the Contract

  • Mistake-when and how mistake affects a contract
  • Misrepresentation-innocent, negligent and fraudulent
  • Duress
  • Frustration
  • Force Majeure and Hardship clauses

(9) Breach of Contract

  • Strict Liability, the basic rule

(10) Remedies

  • Specific Performance
  • Repudiation
  • Damages and the assessment of Damages
  • Liquidated Damages and Penalties
  • Mitigation of Loss
  • Time Limits for Civil Action in Trinidad & Tobago

Facilitator: Mr. Pascall Marcelin 

he facilitator Mr. Pascall Marcelin is an Attorney-at-Law and a Procurement and Contracts Consultant with over twenty five years experience in Procurement gained from working both as a fulltime executive and on consultancy assignments with both Government and Private Sector institutions. For the past five years he has facilitated Supply Chain Management training courses at the Arthur Lok Jack Graduate School of Business.

Mr. Marcelin is a Certified Purchasing Manager (CPM) and the first Trinidadian to gain this prestigious certification while being resident in Trinidad. He is the holder of a BSc Degree in Economics from the University of the West Indies, a Bachelor of Laws LLB (Hons) degree from the University of London, a Post Graduate Diploma in Corporate and Commercial Law from the University of the West Indies Cave Hill Barbados as well as a Legal Practicing Certificate (LPC) from the University of Staffordshire United Kingdom. He is currently attached to Integrity Law Chambers in San Fernando.

He is a founding Member and Past President of SECU Credit Union and currently serves as a Director.

Details

Date View Event Calendar
Time 8:30 pm – 4:30 pm
Duration 2 Days
Cost TT $3,800.00 (inclusive of training materials, refreshments and Certificate of Participation) 
Please note that prices are subject to change without notice.
Venue Arthur Lok Jack Graduate School of Business
South Campus
Gopaul Lands
Marabella

Contact

Tel: 645-6700
Fax: 662-1411

Coordinators:

Tamara Edwards - ext. 157
Jamie Kendall - ext. 155

E-mail:  openenrolment@lokjackgsb.edu.tt

Certification

Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.

Course Cancellation/ Reschedule Policy

Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).

ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.

 

  

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