Contract Terms 3: Avoid Hanging Chads

If I’m not misremembering, the George Bush v. Al Gore presidential election became all about the handing chad. When the people of Florida voted, they did so using punch cards. The voting machine would literally punch a hole in the card indicating their selection. Sometimes, however, it didn’t work. The punch would not go all … Continue reading “Contract Terms 3: Avoid Hanging Chads”

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To Tender or not to Tender

TO TENDER OR NOT TO TENDER POTENTIAL PITFALLS IN TENDERING THE SURETY’S DEFENSE TO ITS PRINCIPAL IN NEVADA This law firm recently encountered several situations where a surety’s tender counsel failed to properly protect the surety’s interest in litigation, resulting in adverse results which the surety would not have suffered had it retained its own … Continue reading “To Tender or not to Tender”

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Contract Terms 2: The Recitals

Most contracts (if not virtually all) contain recitals. They will sometimes be called “recitals” or “background” or, if the attorney is old-school, use the phrase “Whereas…” a lot. When I first started studying contract law, I thought these recitals were included by convention–just something attorneys do (like use the word “whereas”). Maybe that’s what you … Continue reading “Contract Terms 2: The Recitals”

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Contract Terms 1: The Parties

The Right Entity One of the basic elements of a contract is to know who you’re dealing with. (No, Who’s on first). If you are representing an LLC or Corporation, make sure the LLC or Corporation is identified as the party to the contract. If you identify yourself as a party, you can become individually … Continue reading “Contract Terms 1: The Parties”

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Your Contract Has Problems. They all do.

A contract is not going to prevent all disputes. It will definitely prevent some, but certainly not all. I would guess that about 90% of the lawsuits my firm handles involve a contract. And, frankly speaking, many of the cases are good cases with fair arguments on both sides of the issues. So does this … Continue reading “Your Contract Has Problems. They all do.”

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How much will it cost to have your attorney look over your contract? Plus, one tip for getting a good deal

So there you are, looking at a contract you found on the internet. You’re thinking about using it for your business. It looks pretty good to you. But you also think to yourself, “Maybe I should have an attorney look this over.” You’re probably thinking this because society has taught you that sophisticated business people … Continue reading “How much will it cost to have your attorney look over your contract? Plus, one tip for getting a good deal”

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The Anatomy of a Contract

A contract typically consists of the fairly standard parts. Each part may be different depending on what the contract is for, but most of the time these standard terms are there. The Title – This is what you call the agreement (obviously). The Parties – Identifies the individuals or entities subject to the contract. The … Continue reading “The Anatomy of a Contract”

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