What you need to know about contracts

Before you go into a contract with your employer (or anyone), you should be knowledgeable about its basic ins and outs. Today I’m talking about the basics you need to know about contractual agreements. Note that this information is presented particularly for Irish residents.

  1. An offer isn’t a contract. Let’s say, someone has invited people to some kind of transaction. Now anyone can take that offer if applicable. But the offer has to be accepted. Otherwise, no party can claim that a contractual relation has been built.
  2. All accepted invitations aren’t contracts. Your friend asked you to meet him at a restaurant and you agreed. But this doesn’t bind you legally. Promises aren’t necessarily contracts.
Terry Gorry is an experienced, Irish solicitor and a regular YouTuber. We’re a fan!

3.Contracts can be made both in written and spoken forms. But it’s better to make a written agreement because it’s easily enforceable.

4. Contracts must be humane and legal. No one can force you to perform an illegal activity or an impossible task.

5. Even legal and valid contracts can be made avoidable in emerging situations. These are subtle and should be discussed with an experienced lawyer. For example, you went into a contract to pay someone x amount of money next month. But an accident occurs in that month. Now the other party tries to get back their money. Legally, you’re not obliged to pay back his money. Because the situation has made you incapable of paying back the amount.

6. If you think you have been manipulated or treated unfairly, try to consult with an lawyer to understand the scope of your claim. Some considers contracts to be completely enforceable. Truth is you can avoid agreements in the context of an inappropriate situation. So don’t hesitate to contact your lawyer even if you think the contract goes against you.