Lecture

Specific Contracts: Mandate, Confidentiality, Joint Ventures

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In course

MGT-455: Practical business law

The course covers the fundamental concepts of business law from a practical standpoint, including contracts and company law, intellectual property, data protection and competition law, with a special focus on issues specific to start-up companies. ...

Description

This lecture covers specific contracts such as mandate, confidentiality agreements, and joint ventures. The instructor explains the definition of a mandate contract, the obligations of agents and principals, as well as the importance of confidentiality agreements in business transactions. Additionally, the lecture delves into the concept of joint ventures, distinguishing between equity and non-equity alliances, and discussing the reasons for cooperation. Various issues to consider in joint ventures, governance mechanisms, and common pitfalls in joint venture agreements are also explored.

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Related concepts (32)

Contract

A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. A binding agreement between actors in international law is known as a treaty.

Confidentiality

Confidentiality involves a set of rules or a promise usually executed through confidentiality agreements that limits the access or places restrictions on certain types of information. Privacy law By law, lawyers are often required to keep confidential anything pertaining to the representation of a client. The duty of confidentiality is much broader than the attorney–client evidentiary privilege, which only covers communications between the attorney and the client.

Specific performance

Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. It is typically available in the sale of land law, but otherwise is not generally available if damages are an appropriate alternative. Specific performance is almost never available for contracts of personal service, although performance may also be ensured through the threat of proceedings for contempt of court.

Law of obligations

The law of obligations is one branch of private law under the civil law legal system and so-called "mixed" legal systems. It is the body of rules that organizes and regulates the rights and duties arising between individuals. The specific rights and duties are referred to as obligations, and this area of law deals with their creation, effects and extinction. An obligation is a legal bond (vinculum iuris) by which one or more parties (obligants) are bound to act or refrain from acting.

Contractual term

A contractual term is "any provision forming part of a contract". Each term gives rise to a contractual obligation, the breach of which may give rise to litigation. Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract. The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.

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