What is a Contract ?

What is a Contract? 📑

Yesterday, I was part of a very insightful webinar courtesy of Beverley A Agbakoba-Onyejianya and the Nigerian Bar Association Section on Business Law (NBA SBL) on the importance of contractual stability, and respecting contracts in the sports and entertainment industry.

That said, before you even start to discuss honouring a contract, I guess you need to know whether you have a valid contract in the first place… 🤔…You could be accused of not honouring a contract which may not even be valid or legally enforceable 🤷🏽‍♀️.

Under the Law of England and Wales (and many of the jurisdictions) there are four essential elements to a contract:

1. An Offer
2. Acceptance
3. Consideration
4. An intention to create legal relations

I break them down in this video👇🏾

https://lnkd.in/eNdSvh2w

I go on to discuss the terms and conditions of a contract in this video👇🏾

https://lnkd.in/eMhXgq3e

Feel free to watch 😊📺✔️

Yes, my articles tend to be geared more towards the football industry🦵🏽⚽️, however please note that a contract is a contract in any walk of life, and must be respected, otherwise there could be consequences. This may include ending up in front of the FIFA Tribunal or the Court of Arbitration for Sports (if it’s football related), or you could end up in court 👩🏽‍⚖️⚖️.

Just to note that not all contracts need to be in writing and signed to be valid and legally enforceable, however, it is highly recommended. I’m not sure how much this applies in Africa. Maybe the lawyers in the house can enlighten us!

Personally, I wouldn’t go with a verbal contract in Nigeria 🇳🇬 ❌ or Ghana 🇬🇭 ❌ unless I’m ready to swallow any bitter pill 💊 that I’m prescribed. These are two countries I have considerable working experience in and I have seen grown men weep over verbal contracts gone bad 🙆🏽‍♀️. I’ve heard things like, “I went to school with him and we started this football business together. We go waaay back, I never knew he could treat me this way. He was like a blood brother” and “He lived with me and I treated him like my own son from the age of 10. Even his parents used to come and eat at my house”.

Don’t be outsmarted!!! 👊🏽

Feel free to share any interesting stories (football or non-football) of attending court and trying to enforce a verbal contract 🤦🏽‍♀️😅.


To enjoy the full benefit of this post and some interesting comments, you can also view it on LinkedIn:

https://www.linkedin.com/posts/eby-emenike-0726195_tbdfootballeducation-contracts-footballindustry-activity-7201273551163637761-h967?utm_source=share&utm_medium=member_desktop

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