It is not uncommon, where good business relationships exist, for the parties to continue to work together after the expiry of a fixed term contract (Expired Contract). This typically occurs where there is a fixed term for the agreement and that termination date comes and passes. While it is great to form such good business relationships, contracts are there for a purpose and there are no guarantees that good business relationships will persist.
So what is the nature of the contractual relationship between the parties in such circumstances?
B.Bus.,MBA.,LL.B.
