Law of Contracts
Drafting of contracts requires forward-looking way of thinking, accurate formulation and a good estimation of possible circumstances and conflicts that may come up. Finally, contracts become particularly important each time when a dispute arises between the parties to the contract. In this respect the contract should take precautionary measures in stipulating mutual rights and obligations and creating thereby a framework for the legal relationship of the parties to the contract.
Yet contracts are so different as the facts and circumstances of life regulated by them. A real property purchase agreement differs of course clearly from a contract of association or an employment agreement. For instance in the intellectual property law licence agreements regulate the permissible use of intellectual property. As opposed thereto contracts in IT-law are in many ways complex and closely connected to the technical descriptions of service (specification, service level agreement).
However, a good contract takes into consideration not only any potential future events but it should create above all a reasonable balance of interests and be “at arms length”. Therefore, it is important for the attorney at law as drafter of the contract to keep in mind the interests of the parties just like the regulatory contents of a contract.