Parties

You should be clear whom you are dealing with and obtain the full name of the parties to the proposed contract or agreement. Parties may be individuals, corporations, government entities or other business organisations but should never be an unincorporated group of persons. You will need the full name including for a company its A.C.N. (Australian Company Number) and its registered address or head office.

Pitfalls

Identifying the other party by using an inaccurate or incomplete name may result in the contract or agreement being unenforceable against the other party with whom you thought you were doing business. Failing to properly identify the other party may make the contract or agreement worthless.