What Does Law++ Do With Contracts? As part of an effort to help our community understand what we’re about, we’re answering this question. I spend more time on contracts than non-contract related activities in the firm. That’s probably because contracts encompass so many other areas of law. Mergers and Acquisitions, real estate, employment, and of […]
What is a Merger Clause?
Also called an integration clause, a merger clause is a provision in a contract. A merger clause limits the content of the agreement to just what is written in the contract. For example, if Bob and Tina have a contract, Tina may not use promises made by Bob that weren’t written down. This is a […]
What is a Savings Clause?
What is a Savings Clause? This is a common question I get regarding contracts. Firstly, savings clauses and severability clauses are the same thing in contracts. Their origins may be different. I don’t know. However, you can use them interchangeably. Severability is the most common for me. Unfortunately for you, lawyers typically write these with […]
What is a Severability Clause?
What is a severability clause? This is one of the more common questions I get, especially from those new to small business. That’s not a bad thing! This is boilerplate. It sounds relatively meaningless, but does actually carry a lot of meaning. On the other hand, lawyers rarely read these because they all tend to […]
What is a Contract?
What is a Contract? Simple question. Everyone conceptually knows what a contract is. However, there are a lot of finer details. What is a Contract? At its simplest, a contract is a legal agreement between two or more people. Legally speaking, a contract is a legal device that exists once certain conditions are met. It […]
What is Breach of Contract?
What is breach of contract? Breach of contract is the cause of action that arises when one party fails to perform under a contract. That’s too legalese. If one party doesn’t do what they’re supposed to in a contract, they’ve breached that contract. However, it is not always that simple. What is a contract? Contracts […]
Memorializing an Oral Contract
Memorializing an oral contract is a must if you’re going to use oral contracts at all. We recommend using written contracts whenever possible. However, if you can’t “get it in writing,” you should memorialize the oral terms after the fact. What is a Contract? A contract is a legal agreement between two or more […]
Contract Enforcement and Retention
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 […]