Contract law covers all those regulations and principles of law which are governing for the conclusion, the implementation and the termination of contractual agreements. The conclusion of a contract is made by way of pertinent declarations of intention of the contracting parties and in so far as the contracting partners are private parties it is deemed that this is a legal transaction under private law. Contracts may be set up and drafted in the form of either bilateral or multilateral legal transactions. Declarations of intention which are agreed-upon and concluded under private law with a view to the conclusion of a contract are referred-to as offer and acceptance.
Central issues and questions which have to be dealt with in contract law are the set-up and the drafting of the wording of the contract, the legal questions which arise in connection with the implementation of contracts, and also the legal consequences of contractual obligations which were so entered into. As far as the termination of contracts is concerned essential issues which have to be dealt with are problems arising in connection with the termination of contracts, the termination of contracts by common consent, and termination by way of cancellation and termination agreements.
Problems which frequently lead to disputes are potential or alleged breaches of a contract by either one or several of the contracting parties and potentially resulting claims which are mostly claims for damages.
In the light of existing legal provisions it may also happen that existing contracts which were concluded between the respective parties may subsequently be found to either be invalid or are possibly found to be contrary to honest practice for the reason that they are infringing the law.
Another increasingly significant aspect is the consideration of a review of existing contracts with regard to their provisions concerning the underlying general business terms and conditions. In this context a review may detect problems concerning the validity of the wording which is to be chosen for individual contractual covenants, or validity problems which are discovered on the occasion of such a review.
And last but not least the conduct of successful contract negotiations is another essential part of our lawyers’ work in handling our clients’ cases with proper and due consideration of the provisions of governing contract law.