Contract enforcement is an unfortunately necessary focus when entering into business. What is a Contract? A contract is a written or oral agreement between two or more persons or entities to exchange consideration. You can learn more about contracts in our earlier blog. What Does Contract Enforcement Look Like? There are a wide […]
Dispute Resolution Provision Review
It is important to regularly review your dispute resolution provision to ensure it still meets your needs. What is a Dispute Resolution Provision? This provision exists solely to make resolving breaches of contract easier. They come in all shapes and sizes. Choice of Law We discuss choice of law in another blog. You […]
Loopholes are Red Flags
Loopholes are errors in contracts that allows one or more parties to exploit them to create an unintended consequence. Conversely, when you take advantage of the law, that is not a loophole. The difference requires a mistake in the drafting. You need an unintended consequence. Examples of Loopholes I once reviewed a contract that […]
Clauses to Add to Your Service Contract Right Now
If you have a service contract, you must have these clauses. Obviously, you include your price and service terms. These add extra protection to you. Additionally, all contracts need the essential elements of every contract. What is a Service Contract? A service contract is a contract that deals with the exchange of the labor […]
Updating Contracts Within Your Organization
Updating contracts is important. It is an ongoing task your company should be sure to pay attention to. What is a Contract? A contract is a legal instrument where two or more people or entities agree to exchange something or service of value. You can find more on what a contract is here. Contracts have […]
Introduction to Asset Protection
What is Asset Protection? It is the process of legally safeguarding your assets from future creditors. Put more generally, you’re protecting your future from risks you haven’t encountered yet. Asset Protection Rules You can’t do much to protect from a creditor you already know of. Hiding your assets is never the solution. Nothing is guaranteed […]
Sample Severability Clause
A Severability Clause is part of the boilerplate provisions you find in many contracts. It essentially asks the court interpreting the contract to ignore just the unenforceable portions of the contract. Absent this provision, a court may choose to throw out the entire contract if there are any issues. Simple Severability Clause If any provision […]
Unenforceable Provisions in a Contract
Contracts often have unenforceable provisions in them. Therefore, not every provision is binding. In our previous blog, we talked about what makes a contract. In this blog, we discuss these exclusions. Court Interpretation When we say something is excluded from a contract, we mean a court has reviewed the contract language and decided that […]
Sample Merger Clause
A Merger Clause (AKA “integration” or “entire agreement” clause) is a boilerplate portions of many contracts. They define the scope of the interpretation of a contract. Therefore, they can be incredibly useful clauses for protecting yourself! Merger Clause Benefits The length of your document becomes the downside of these clauses. The more words, the more […]
The Anonymous Startup
Creating an anonymous startup is no easy task. For one thing, the Secretary of State requires a registered agent and an organizer to be listed. If they’re not you (which since it is public information, it probably isn’t), who will it be? Can you trust that person not to share who you are? When you […]
What is a Choice of Law Clause?
What is a Choice of Law Clause? Every now and then, this question comes up. Choice of law clauses are pretty common boilerplate clauses in contracts. These allow the contracting parties to specify which state’s laws are used if there’s a dispute. Choice of Law Example For example, if both parties are in North Carolina, […]
Sample Choice of Law Clause
Choice of Law clauses are often very important clauses in contracts. However, they’re not always that critical. Sometimes, especially in real estate or in-person consumer contracts, the law that is to be applied is chosen for you. For example, the purchase of a piece of real estate generally must be governed by the laws of […]