Contract Dispute Lawyer
When it comes to drafting a contract, many people focus on the big picture and overlook important details. Failing to include key items in a contract can lead to confusion, misunderstandings, and even legal disputes down the line. Let’s explore five key items that many people overlook when they draft their first contract.
One important item that is often overlooked is the issue of specific performance. This refers to the requirement that parties to a contract must perform their obligations under the contract exactly as specified. Failure to include a specific performance clause can leave the door open for parties to argue that they are not obligated to perform exactly as agreed. This can lead to further conflicts, including employees not performing specific tasks that are required for the business.
Another important item that is often overlooked by businesses is the termination clause. This clause outlines the circumstances under which the contract may be terminated, as well as the process for termination. Without a termination clause, parties may find themselves locked into an agreement that is no longer in their best interests. Having a termination clause ensures both parties have the opportunity to dissolve the agreement if and when necessary.
Governing Law and Jurisdiction
A contract can also overlook governing laws or jurisdiction. This clause specifies the law that will govern the interpretation and enforcement of the contract, as well as the jurisdiction where any disputes will be heard. Failing to include a governing law and jurisdiction clause can result in confusion and legal battles down the line, meaning it’s best to include this clause.
Confidentiality and Non-Disclosure
Confidentiality and non-disclosure clauses are often overlooked, especially in agreements between businesses. These clauses specify the information that is confidential, as well as the obligations of the parties to protect that information. Without a confidentiality clause, parties can unknowingly have their confidentiality and private work exposed.
Finally, force majeure clauses are often overlooked. These clauses outline the circumstances under which the parties to the contract are excused from performing their obligations due to events outside of their control. This can include natural disasters, war, and other unexpected events. Failing to include a force majeure clause may lead parties to be or feel vulnerable, which can result in disputes or legal battles.
When drafting a contract, it is important to pay attention to the details. Failing to include key items such as specific performance, a termination clause, governing law and jurisdiction, confidentiality and non-disclosure, and force majeure can result in confusion, misunderstandings, and even legal disputes down the line. By taking the time to carefully consider these and other important items, you can ensure that your contracts are clear, enforceable, and protect the interests of all parties involved. Working with an experienced attorney can help you identify these key items and ensure that your contracts are comprehensive and effective. The right contract dispute lawyer can make a world of difference—something our friends at Eric Lindh Foster Law, LLC know about first-hand!