Professional English – Do You Know These Types of Legal Contracts?

This is intended to govern the relationship between a number of shareholders in a company. The agreement works as a second layer of protection preventing the company from being run in a manner other than has been agreed.

This agreement is used to ensure the repayment of money borrowed, usually in monthly instalments.

This agreement is used where one party grants to another the right to run a business in the name of the first party. Examples include Body Shop and McDonalds.

This agreement is used where one party is providing services as an independent advisor to a company.

This contract comes into existence as soon as a job offer is accepted whether that offer is oral or in writing.

This is the equivalent of a contract of employment for directors.

This agreement is used where one party buys goods from the manufacturer and re-sells them on his own account. He will however be given the right to use the manufacturer's intellectual property rights.

This agreement should be used where one party (the licensor) owns intellectual property rights in respect of a product it has developed and wishes to license the manufacture of the product to a third party.

This agreement sets out the terms and conditions on which a business supplies goods.