The Fundamentals Of Entering Into A Contract

When it comes to novel businesses it is essential to have a legally enforceable contract executed. This will make the financial procedures clearer and easier as you will be able to solve any issues if your terms and conditions have been clearly stated as opposed to having to go to court to settle on minor issues. Our firm ensures that you receive all the adequate financial and legal advice through each step of setting up your business in Dubai as we are also extremely well versed with the local law governing the area of company and contract law.

Our legal and business set up consultants in Dubai will ensure that your impending contracts have been executed in the right manner as these contracts are vital in obtaining your business license as it shows the authenticity and formality of the business you have developed in a small scale.
In order for there to be a valid contract:

  1. Offer- There must be a valid offer by one of the parties. There should be mutuality in the agreement and no further negotiations to be made. The offer will be binding upon acceptance. Your consultant will ensure that you don’t enter into any business relations where the financial terms seem unfair or will have negative effects on your overall business.
  2. Acceptance- This is usually considered to be a mirror image of the offer. The terms must be the same and acceptance would amount to a legally binding contract. Your legal consultant will look into any contracts that you have not communicated acceptance to, to make sure that there are no complications and any business relations you have are documented in an orderly way.
  3. Terms and conditions- there can be no implied terms in a contract and thus any terms and conditions visible are the ones that you and your business partner will be bound by. If any terms have been orally discussed and not included in the contract, our consultant will make sure that you don’t proceed with such a business venture until your contract is fully incorporated with all the initially discussed conditions. If you have failed to include all terms, and you’re seeking relief, you would have to go to court in hope that the implied terms will be incorporated into the contract by way of judicial intervention.
  4. Intention to create legal relations- Our professionals will ensure that all your paperwork carries legal weight, as, if there are agreements which are made between friends or in an informal way, these would not be valid instruments for you to pursue legally.

Thus you must always make sure that you seek advice through each step of your establishment of your business with the assistance of a professional as you are likely to miss out on finer points due to your lack of expertise.

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