The purpose of a contract is to regulate the relationship between the parties thereto, wherefore the need arises that each contract be uniquely drafted to address and protect the interests of the parties.

If we have learned anything from the Covid-19 pandemic, it will be that contingency planning, especially in business, is key.

Whether your interests are sufficiently protected under the contract usually only becomes a question when one party breaches the terms of the agreement. If the written contract is silent on the matter, it can leave you vulnerable to potential legal costs in order to remedy the situation and at the same time destroy the relationship.

Whether you are buying a business as a running concern, employing staff, renting out office or residential property etc, you need to make sure that the terms of the applicable contract address all possible scenarios.

Crucial to know! You cannot contract out of legislation. Practically this means that all your statutory obligations remain your statutory duty, BUT you can protect yourself by including a clause in your contract addressing your right of regression wrt damages. Please read the section on POPIA and PAIA compliance.

When last have you reviewed your contracts?