Does a commercial contract have to be in writing?
Contrary to popular belief, an enforceable contract does not need to be written down. There are exceptions, contracts concerning interests in land and guarantees must be in writing under the Statute of Frauds. However, it is incredibly difficult to prove the terms of an oral contract; therefore, if you are entering into an agreement any more complex than buying a pint of milk from your local store, get it on paper.
Commercial contract disputes are time-consuming, expensive, and can result in damage to your brand’s reputation. Although disputes cannot be avoided, the key to mitigating the risk is to invest in expert drafting and review of all your commercial agreements. Our Solicitors have the experience, legal knowledge, and business acumen required to ensure your contracts are sharp, robust, and advance your commercial ambitions.