Although businesses enter into commercial contracts on a regular basis it is often common for one party to claim that the contract does not adequately document the intention of the parties. The party in question may apply to court to have the contract rectified.

A personal guarantee is a legally enforceable promise by a person to repay the debts of another person. A person could be a company, LLP or an individual.

Before entering into a significant corporate or commercial transaction, it is common for the parties to agree a short, simple summary of the key terms of the deal. This is known as the “heads of terms”, or simply “heads”.

Our Company & Commercial and Litigation team hosted their inaugural Business Matters on the 1 October.

When setting up a new business, one of the key, and often the first consideration will be in respect to which legal structure you will form in order to define the way the business is organised and help to determine your legal obligations. The pros and cons of each option are always worth weighing up and considering so Stephen Newman, Partner and Head of our Company and Commercial team has created a brief insight below into the most common types of legal structures.

Ramsdens Solicitors and MFL are launching their Business Matters programme, which is a series of seminars guiding business owners and directors through their business journey.

Generally, a director is not personally liable when it comes to business matters. Jeremy Cook from our litigation department discusses certain situations in which a director may find themselves liable if they do not act in accordance with the law.

Thinking of buying or selling a dental practice? Ramsdens can help.