Here is another geeky contract term that a lot of people don’t understand, yet it has important implications if there is ever a dispute between the parties to a contract. The geeky contract term for this week is the Integration Clause. The Integration Clause (or...
Having spent several years in litigation practice, day in and day out all I dealt with were partners who were suing or being sued. I concluded that while litigation is an important part of the American legal system, it is also very wasteful. It is...
Contracts form the backbone of all commercial activity. Every business has a contract with its clients. Some contracts are very basic, such as retail establishments: The business will give you X when you pay $Y. That is a form of contract-just a largely unwritten contract. Other...
As a general rule, I tell all my clients that every business relationship they have should be documented in a contract. It is a simple rule and sounds as if it would be easy to follow. But it is not always so easy since in...
For small business owners, particularly those involved in retail activities, the single most important document the owner may ever sign is their commercial lease agreement. But many commercial lease agreements, being assembled over time by the landlord's lawyers, are replete with ambiguities, drafting errors, and...
Over the next week, I will be publishing a series of posts called "Essential Contract Terms for Consultants, Independent Contractors, and Freelancers." While each post will cover a specific topic, the overall theme for this series is to encourage business owners to avoid, where ever...