43Legal

One Size Fits All – Or Does It? Downloading a contract online may seem like an inexpensive and quick fix for your business needs. It might even feel like a ‘make-do’ solution. But let’s be honest: your business is unique. So why would a generic contract, designed for every business under the sun, be the best fit for yours? Here are a few things to consider: Do your contracts meet your specific needs? Do they align with your business goals and interests? Are they crafted to help you achieve what you're aiming for? And most importantly, do they protect your interests if things go wrong? If you're unsure or the answer is ‘no,’ it’s time to get your contracts reviewed. Prevention is always better than cure. #BusinessTips #ContractManagement #LegalAdvice #BusinessProtection #PreventionIsBetterThanCure #Entrepreneurship #LegalMatters

Tired of Disjointed and Expensive Legal Services? If you’ve ever worked with a traditional law firm, you may have found yourself dealing with multiple individuals for different aspects of your legal needs—each person often unfamiliar with your business and lacking insight into your overall requirements. This lack of collaboration can lead to frustration and delays, which ultimately impacts the service you receive. Here’s an example: Imagine you’re dealing with a breach of contract. The issue often arises from deficiencies in the contract itself—maybe it’s incomplete, unclear, or simply wasn’t what was intended. Once the dispute is resolved, you're referred to a different department or fee earner, and the process starts all over again. A new file is created, and after multiple weeks of waiting and follow-ups, you’re left without answers. This is the frustrating experience that many commercial clients face when working with traditional firms. That’s why at 43Legal, we do things differently. We provide our clients with a single point of contact—a dedicated solicitor who manages all of their legal needs. From contract disputes to commercial advice, the same person is always in the loop, fully aware of the client’s business and needs. No handoffs. No miscommunication. Just seamless, proactive service that ensures every aspect of your legal requirements is managed with care and expertise. If you're tired of working with firms where your business feels like just another case, let's chat about how we can provide a more personalised, streamlined approach to your legal needs. Feel free to get in touch. #LegalServices #ClientExperience #BusinessLaw #StreamlinedService #CommercialLaw

Do you ever seek to limit liability under a contract? If not, it’s always worthwhile doing so. A good starting point is to consider the risks involved for the parties should things go wrong, when performing their obligations. For example, if you are buying and selling goods, and the goods aren’t delivered as expected what are the implications? Could the buyer seek to buy the goods elsewhere relatively easily? Alternatively, if the buyer fails to perform their obligations could this place the seller’s business in jeopardy? Please remember, any limitation needs to be reasonable and explicit within the contract, otherwise there is a risk that the clause limiting liability may not be enforceable. It is always worthwhile seeking legal advice before entering into a commercial contract, especially if you are seeking to limit liability, to ensure the contract is enforceable and meets your requirements. #sme #law #contract

Are you a director of a company? Do you know what your obligations are towards the company both now and when you leave? Are you a director looking to set up a company of your own? Are you a company where a director has recently left? If you’re a director of a company and are thinking of setting up a company of your own, or looking to move to a new role at a different company, be careful. Your obligations to your old company extend past your leave date. For example if you use information you acquired in your previous role to the detriment of your former company, you could be found in breach of your obligations to your previous company and personally responsible for any loss suffered. Your obligations as a director to your previous company may apply, even if you do not have a written service agreement or employment contract in place prior to leaving. If you are :- - a director of a company and thinking of setting up a new company of your own; or - a company, where a previous director has left and set up a new company or became a director elsewhere; or - a director and you’re unsure what duties a director has towards a company Please feel free to get in touch, we can help ensure you protect your position - prevention is far better and less costly than the cure. #business #law #director

Why form a group structure? What are the benefits? There are many benefits that can be gained from creating a group structure including commercial, regulatory, legal and tax benefits. For example you can ring fence assets or enable the company to use its assets commercially across the group whilst also protecting them from commercial and financial risk e.g. intellectual property. Alternatively, it can help as regards any future sale, in that part of the business can be sold whilst retaining the rest. Creating a group company structure doesn’t have to be expensive and may well be worth considering in order to utilise the potential benefits that can be gained. It can also be done tax free in a lot of circumstances and is often used with succession planning, e.g. where a business partner is looking to retire. It’s always worth checking with HMRC at the beginning as to whether any tax will be payable to provide certainty to the individuals and companies involved. Whether to create a group structure or not is something we can discuss with you as part of our Virtual In-House Counsel Services that we provide. Further details can be found in the comments. #business #law #company

Don’t get caught out and inadvertently enter into a contract without intending to do so or inadvertently do so at too early a stage in the negotiations. Remember a contract can be entered into verbally and there is no specific requirement for a contact to be in writing or for certain language to be used for a binding contract to be entered into. Therefore it’s common for parties to use a letter of intent when entering into contract negotiations so as to avoid entering into a contract without intending to do so. However be careful a poorly drafted letter on intent can be just as problematic. Also if it’s intended that no verbal communication will form a binding contract than it should say as such and it’s a good idea to mark all communications, discussions or negotiations as ‘subject to contract’. #business #law #solicitor

Should I terminate a contract? Unfortunately there is not one straight answer and it very much depends. If you terminate a contract without just cause you could be faced with a claim for doing so unlawfully. Likewise, if you delay too long in terminating a contract as a result of a breach you can jeopardise doing so, if ultimately it is determined that you accepted the position, in which case you may lose the opportunity to terminate. If in doubt seek advice. #business #law #lawyer

What are the Articles of Association? When a company is incorporated the Articles of Association form part of the companies constitution and effectively stand as the rules upon which a company is to operate. If you use, an ‘off the shelf’ company, when incorporating, the standard model articles are utilised without amendment. The Articles of Association should therefore be checked to ensure that they meet the company’s requirements and if necessary amended. It is also important to review the Articles of Association as the company grows to ensure that they continue to meet the requirements of the company. If the Articles don’t apply to the business needs, you could be in trouble because acting outside the scope of the companies constitution, including the Articles of Association could result in decisions being overturned and the company considered to be acting unlawfully. #business #law #lawyer

What are the remedies for breach of contract? A breach of contract occurs when one party fails to honour their side of the bargain or put differently, when one party fails to comply with their obligations under a contract and the other party suffers loss as a result. When a breach of contract occurs before pursuing a claim you need to know what the potential remedies available to you are. Essentially there are three, which are:- 1. Repudiation - this is where the breach is considered so serious that the contract is deemed to have come to an end. Alternatively, the contact may specify when certain actions or events result in repudiation of the contract. However, be careful not to assume repudiation because if it’s not, then you could be held in breach for terminating the contract unlawfully. Always seek legal advice if you believe there is a repudiation of a contract. 2. Damages - here the court will look to place the injured party back in the position they would have been had the contract been performed satisfactorily. 3. Specific Performance - sometimes where breach occurs it is possible to ask the court for specific performance, which basically means forcing the other party to perform their contractual obligations as set out in the contract. In practice this isn’t frequently used because generally by the time you get to court the relationship between the parties has irretrievably broken down. There is also the prospect of seeking injunctive relief, which can be a mandatory injunction, which seeks to instruct a party to take a certain action or prohibitory injunction, which stops a party from taking action. An injunction can be sought as both an interim measure or a final measure. #business #law #litigation

Unfair prejudice what is it? If you are a minority shareholder and feel as though the company is being run in such a way which is unfairly prejudicial to your interests then there is provision for you to bring a claim in the High Court. Pursuant to section 994 of the Companies Act 2006 you can make an application if the act complained of is both unfair and prejudicial such as a breach of fiduciary duty, mismanagement or a breach of a shareholders agreement. If the petition is successful there are a number of remedies the Court can award including:- - The minority shareholder can be allowed to resign, with their shares being bought by the company or other shareholders. - A company can be prevented from taking a certain action. - An order forcing a company to bring court proceedings for further redress. - Preventing amendments to the articles of association. - An order for a petition to wind the company up. In addition to a section 994 petition a shareholder can also bring a derivative action or seek a winding up petition on the grounds of it being just and equitable. #business #legal #solicitor