Illuminate 5: Contractual Warranties

This course is about the role that contractual warranties have as statements of truth within the terms and conditions found in a typical commercial contract. Requesting warranties from the other party is a usual part of assessing the risk of entering into a contract.

The focus is on the nature of a warranty as opposed to a guarantee. Providing the other party to the contract with warranties is part of the disclosure process, revealing facts that the other party would like to consider before finalizing the agreement. This allows both parties to see the risks as well as the advantages of doing business. The module also looks at the role that a virtual data room plays in the modern process of two parties negotiating the terms of a commercial contract.

Course access: this online legal English course will be available for 365 days after purchase.

At the end of this course in English for lawyers, you will know more about:

• warranties as operative clauses in commercial contracts
• the difference between a contractual warranty and a guarantee
• the importance of the disclosure process between the parties when negotiating a contract and the exchange of disclosure letters as part of the negotiating process
• the development of virtual data rooms as an efficiency measure and their use by law firms
• the use of defined terms in contracts
• warranties as secondary provisions of a contract and the availability of the remedy of damages where a loss has been suffered as a result of the breach of a warranty
• the important precedent case of The Moorcock, 1887, in which the court established that certain warranties were essential if a contract was to make ‘business sense’
• the difference between express and implied warranties 
• the idea of business efficacy and a court’s interference with the terms of a written agreement
• some key legal English dictionary terms that are essential to practising commercial law at an international level

TOLES PREPARATION: This course is excellent preparation for all three levels of the TOLES exams in professional legal English.