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Commercial contracts

Law CommerceCommercial credit

Some Types Of Commercial Contracts Are:
DEFINITE QUANTITY CONTRACT - A contract which provides for delivery of a definite quantity of specific supplies or services for a fixed period, with deliveries to be scheduled at designated locations upon order.

 


Major exceptions include contracts involving the ownership of real estate and commercial contracts for goods worth $500 or more, which must be in writing to be enforceable.

The habit of dealing has always an important bearing upon the construction of commercial contracts.

However, a court will attempt to give effect to commercial contracts where possible, by construing a reasonable construction of the contract (see Hillas v. Arcos Ltd (1932) 147 LT 503).

See also: Delivery, Livery, Contract, Service, Contra

Law CommerceCommercial credit

 
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