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The Basics Of Contracts: Breach And Remedy

Posted in Dispute Resolution on 19th Nov 2019
Breach and Remedy of Contracts In this series, James Spargo Litigation Executive (BA Hons, GCILEx) will look at the very basics of contracts. The Specters team are always happy to provide advice on all types of contracts. Often when we think of contracts, we think of lengthy documents in small print full of legal jargon. However, a contract can be as simple as exchanging money for a packet of mints in a corner shop. In such a case, you don’t even need to say anything to the shopkeeper, the mere fact of the exchange of goods for money is enough for...

The Basics Of Contracts: How A Contract Is...

Posted in Dispute Resolution on 18th Nov 2019
How is a contract formed? In this series, James Spargo Litigation Executive (BA Hons, GCILEx) will look at the very basics of contracts. The Specters team are always happy to provide advice on all types of contracts. There are three basic things needed for a contract to be formed: Offer and acceptance Consideration Intent to create legal relations Offer and acceptance Although this is a surprisingly complicated area and there has been a lot of debate among the Courts about when and where an offer is made, for the vast majority of contracts, this...

Unpaid Debts Kill Small Businesses, Don't...

Posted in Debt Recovery on 4th Nov 2019
In June 2016, the Association of British Insurers (ABI) reported that the number of insurance claims made by UK business facing bad debt had risen to its higher number in ten years and in April 2019 the Small Business Commissioner reported that on average, 32% of invoices were paid later than agreed terms. Specters understand the impact that bad debt and late payment can have on a small or medium sized business. Debt affects cash flow, which in turn affects the ability of your business to cover short-term liabilities, which can lead your otherwise...
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