Contract Law

Wealth, in a commercial age, is made up largely of promises.”
– Nathan Roscoe Pound

A contract is the most important judicial instrument used by citizens and companies to effect the arrangement of their joint legal relationships. The contract may concern, for example, the realisation of corporate restructuring between two limited companies, a company hiring an employee, licensing the right of use of a patent, commencement of trade representation or retail co-operation or the sale of a used apartment. Ultimately, all commercial exchange is based on various contracts between individual actors.

Alfa’s attorneys work daily with contractual liability related issues. We draft various contracts for our corporate and private clients and evaluate from our clients’ viewpoint contract drafts prepared by others. In contract negotiations and in the preparation of the contract our task is to ensure that all matters pertaining to the legal relationship are included in the contract document. A good contract is in our view logical and simplified in structure, explicit in language and it determines the rights and obligations of the contracting parties in sufficient detail.

It is the contract lawyer’s duty to draw the client’s attention particularly to the legal risks connected to the contract as a whole. Liability, which may materialise by virtue of the contract, should not take the client afterwards by surprise. The content of liability can be influenced in contract drafting, for example, by including limitation of liability –clauses or by setting a pecuniary ceiling for the contracting party’s liability.

Alfa’s attorneys attend to various contractual disputes in the courts of law. Our extensive experience in handling disputes further expands our perspective in drafting contracts. It is a fact that liability risks can be evaluated from a completely different perspective after one has seen in court proceedings the disagreements and financial demands that insufficient or imprecise contracts can lead to. It is considerably more cost-efficient to use an attorney in the drafting of a contract, rather than having to contend with the contractual conflict later in court.