April 2020 a time for SME's, Medical and Dental Practices to review their contracts:
I live next to an auction yard. It pains me to see repossessed office furniture and fittings sitting forlornly in the sun. Many of the owners of these items failed to pay their suppliers and Landlords on time. One thing the current information storm has taught us is that we can never be fully prepared for what life will throw at us. As small businesses, we have entered into several contracts with staff, suppliers and clients. Some of these are written and many are verbal. The verbal contract can be terminated at will. Communicate this termination properly and on time. It is the right thing to do. The written one can be presented in a court of law if you can find one open in Kenya at this time. The fact that courts are not open doesn’t stop contracts from being binding on both parties. You have a contract with the landlord of your business premises for example. You must pay whether or not COVID 19 forced you to close for the better part of March or not. In legal contra...
