Understanding Contract Law in Zambia: Essential Clauses for Business Agreements
A guide to the critical elements of contract law, highlighting the clauses that businesses should always include in their agreements to protect their interests.
- INTRODUCTION
Contract law is a subject that affects businesses globally daily and governs the essence of business and trade itself. If treated lightly, one is likely to get the short end of the stick under a contract. Contract law refers to the law that regulates the formation, operation, and enforcement of agreements between parties. The said agreements are entered into with intention of creating legally binding relations between the parties. It is important to note that subsistent and critical elements of the contract law in Zambia are adopted from the common law and progressively form part of the Zambian law through continued application by the Zambian courts.