Contracting Basics
Many different kinds of contracts are used in the creative industries from recording agreements for music through to commission agreements for art works. However, no matter what the focus of a specific contract is, there are many key principles which are standard across all contracts. In this Fact Sheet we consider some of these key principles with a few to providing a better understanding of the way in which contracts work.
The specific questions we address are:
- What is a contract?
- How is a contract formed?
- What is “Offer and Acceptance”?
- Why is “Intention to create legal relations” important?
- How does uncertainty arise in the context of a contract?
- What is consideration?
- What happens if there is no consideration?
- Should the contract contain all the terms agreed on?
- Do I have to have read a contract to be bound by it?
- How important is it to define correctly who the actual parties to the contract are?
- Are there any situations where I need a written contract?
- Are there any other benefits to having a written contract?
- When should I insist on a written contract?
- Are there any situations in which a contract will not be found to be binding?
- How is a contract breached?
- What happens when a contract is breached?
- What kind of damages can be claimed for a breach of contract?
- Is there any limit to the damages I can potentially recover?
- What is the Disputes Tribunal?
- Are there any limits to what disputes the Disputes Tribunal can hear?
- What is Specific Performance?
- What is an Injunction?
Fact sheet: Contracting Basics (1096)