Contracts play a crucial role in governing the legal relationships between parties throughout the duration of an agreement. It's essential to clearly establish the type of contract before its conclusion or award, considering the distinct rights and obligations outlined in the German Civil Code. Delaying the interpretation of the contract until after its conclusion can lead to unnecessary conflicts and disputes.
The more uncertainties present in a contractual relationship, the more important it becomes to thoroughly think through and, whenever possible, negotiate the terms. Contracts should include provisions addressing potential changes or adjustments to the contract's subject matter, liability and warranty matters, new developments, price fluctuations, and establish a manageable legal framework. By doing so, disputes during contract execution can be minimized even before the contract is finalized.
Dr. Baidoo possesses extensive expertise in drafting and negotiating complex national and international contracts, as well as Non-Disclosure Agreements (NDAs).