Things to consider in a Contract

Imewekwa: March 10th, 2020

Many people have entered in to the so called agreement but if you scrutize them more carefully and legally you will find them to be not contracts,but certain type of agreements which do not have any legal force.

1.YOUR AGREEMENTS SHOULD BE LEGALLY BINDING

For any agreement which you may enter on anything,to have legal force or to be legally binding,there must be an intention to create legal relation,lawful consideration, capacity to contact,free consent and lawful object to which the parties have agreed. Do not enter into a contract if those five essentials elements are not there. If any of those five elements will be missing,it invalidates the legality of contact.

2.DON'T ENTERTAIN ORAL CONTRACTS

Many people have been entering into agreements by just exchanging words or orally. They do that just because the person they agree with is the parent,relative,brethren, pastor,co worker or a friend and they ended up regretting why they trusted such a person to great extent.

The problem there is not of that person. The problem there is you, who trusted him so much,while there is no person in this world who is supposed to be trusted that much, especially when it comes to issues of money and wealth. Your problem is, you didn't create an environment for him to be legally responsible or liable, that is why it became very easy for him to hurt you.

3.NEVER TRUST ANYBODY BUT YOURSELF

Do not enter into an oral agreement with a person,just because you know him. He will come to surprise you, when he will turn against you, though you trusted him so much and you didn't want your agreement to be in writing.

4.PUT ALL YOUR AGREEMENTS IN WRITING

Make sure that if you are employed,there is an employment contract between you and your employer. If you lend a person some money, there is a loan agreement between the lender and a borrower without caring the amount of money borrowed.

If you buy anything, there must be a sale agreement between the vendor and the purchaser (seller and buyer)or the receipts confirming the proof of that transaction and any other thing which you will do personally or corporately,never do it without a written legally binding agreement.

5.CONSULT AN ADVOCATE FOR LEGAL ADVICE

It is also very important to consult an advocate,so that he can be able to assist you in the drafting of the contract and advise you how should your contact be, before you enter into a contract. You might think that you are saving or minimizing the costs by entering into disorganized and unprecedented contracts,but the loss you will incur later maybe greater than the costs you thought you are saving. Make sure that your contract is well signed and attested by the lawyer, because that lawyer will be of great assistance to you if the other party to the contract Will breach or will not honour the terms of the contract.

6.PREVENTION IS BETTER THAN CURE

Don't waite until things become worse,then you start looking for legal aid. It's better to take precautions before the danger comes. Though sometimes prevention is very expensive,but it is better for you to have the legal prevention,which shall protect you in all situations of your contracts other than waiting for the disturbance which you will get when you will be looking for the legal cure.

            Once you consider all things above you will be in safe side as per Law of Contract Act (Cap 345 R.E 2002).