Why Ts & Cs are vital when buying a business

Robert Orkney Harrison Drury

When buying a new business, there are likely to be many matters occupying your to-do list.

Ensuring you have a well-drafted, robust set of terms and conditions may not seem a priority, but they will provide your business and its clients with standardisation, clarity and consistency around your offering and how you intend to sell or supply it.

Your terms and conditions govern the relationship between you and your clients. In the form of a legally binding contract, they underpin the goods or services you will provide during the course of business.

Having a bespoke set of terms that apply in conjunction with how your business is run will be pivotal for success.

The scope of a company’s terms and conditions

The content of your terms and conditions will be hinged on who your clients are and the service or goods you are selling. They may differ for business-to-business and business-to-consumer organisations.

A well-drafted set of terms may include:

  • clauses dealing with incorporating the terms into the contract
  • how the goods or services shall be supplied
  • the obligations of the parties
  • payment and any data protection considerations.

Other commercial terms may deal with intellectual property ownership, limiting your liability and what will happen if events arise outside of the parties’ reasonable control.

Having a standardised set of terms and conditions is favourable to your business on many levels.

It avoids additional time and expense in drawing up specific terms for individual arrangements and allows for a streamlining of processes for employees across the business.

It also allows you to introduce terms favourable to your business where substantial negotiation isn’t required.

Complying within a legal framework

Regardless of what you’re selling, it is likely that there will be specific regulations or legislation underpinning your terms.

This could include the effect of the Unfair Contract Terms Act 1977 on limiting your liability, or implied terms under the Sale of Goods Act 1979 - are the goods of satisfactory quality?

Having a set of terms and conditions shall assist in complying with your legal obligations.

Bring clarity for all scenarios

Terms and conditions also provide clarity should a certain situation arise.

Relevant clauses can assist parties in understanding their respective rights and obligations. In turn, this will assist in establishing whether a breach of contract has occurred and allow for greater ease of enforceability.

Certain terms may also include dispute resolution clauses, advising the parties on the agreed process for resolving disputes, precluding any unnecessary litigation.

Service consistency brings confidence and satisfaction

Ensuring your clients are happy is paramount to running a successful business.

Contracting on consistent terms shall provide your clients with the confidence and satisfaction that they are entering into a contract free from ambiguity.

Trading on broadly consistent terms will also assist in meeting client expectations such as price and delivery.

Enjoyed this? Read more from Robert Orkney, Harrison Drury

Latest news

1

Construction begins on new Civil Service office building in Talbot Gateway Alan McBride Muse Will Town Defence Infrastructure Organisation Jennifer Chard Defence Business Services Cllr Lynn Williams Blackpool Council Garry Bowker Vinci

Construction begins on new Civil Service office building in Talbot Gateway

20 May 2025

2

Skiddle raises over £750,000 for charities Skiddle cheque presentation to Alder Hey Hospital

Skiddle raises over £750,000 for charities

20 May 2025

3

Former Victorian Hotel approved for residential conversion The site

Former Victorian Hotel approved for residential conversion

19 May 2025

4

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing Oliver Webber, Tracy Clavell-Bate and Tim Webber from Barnfield Group with Cllr Phil Riley, second from right, Leader of Blackburn with Darwen Council

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing

19 May 2025

5

Two Cuckoo Gins named winners in The Gin Guide Awards 2025 Mark Long

Two Cuckoo Gins named winners in The Gin Guide Awards 2025

19 May 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200pxtrident 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

The Business Network Central & East Lancashire
LBV Hub Networking
22 May 2025 - 22 May 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Preston Freelancer Meet-Up: May
Freelancer Meet-Up May.png.png
LBV Hub Networking
22 May 2025 - 22 May 2025

Preston Freelancer Meet-Up: May

society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Amber River True Bearing quarterly investment seminar
LBV Hub Seminars
22 May 2025 - 22 May 2025

Amber River True Bearing quarterly investment seminar

Cottons Hotel & Spa , Knutsford, WA16 0SU

16:00 - 18:00

Liverpool Business Expo 2025
https---cdn.evbuc.com-images-881365363-4862066883-1-original.20241023-085714.jpeg.jpg
LBV Hub Awards
23 May 2025 - 23 May 2025

Liverpool Business Expo 2025

Aintree Racecourse , Liverpool , L9 5AS

09:00 - 15:00

Advantage: AI – A Workshop for Business Leaders – May 29
Artboard 15.png.png
LBV Hub Seminars
29 May 2025 - 29 May 2025

Advantage: AI – A Workshop for Business Leaders – May 29

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin