Contracts Basics

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What Are Abusive or Illegal Contracts?
Contracts are made all the time, and they're usually perfectly legal and everyone's happy. Sometimes, contracts aren't legal, and usually that means someone not only doesn't get what he wanted, but also gets a lot of legal problems he didn't want. Lady Gaga When Stefani Germanotta, who's better known ... READ MORE

What's Bartering?
  Bartering involves trading goods or services with someone else People have been bartering for thousands of years, and it's very popular today Knowing the rules of the trade and the tax issues involved are the keys to successful bartering   People have been bartering for years. In fact, you've probably ... READ MORE

Consumer Contracts: Mandatory Arbitration Clauses
Related Item Businesses scored a big legal win when the Supreme Court ruled arbitration agreements could limit class action lawsuits. The ruling affects businesses, consumers, and quite possibly, employees. A couple sued AT&T Mobility for fraud because their "free" cell phone offer required payment ... READ MORE

From Here to When? Contracts for the Future
“That wasn’t me, the production company just edited me that way.” If you’re a fan of reality TV shows such as “The Biggest Loser,” “Top Chef,” “The Amazing Race,” and so on, you’ve probably heard this phrase from at least one contestant. Just watching the show you might not know, ... READ MORE

Read, Then Sign: Contracts Can Come Back To Haunt
Has anyone ever slipped you a piece of paper, pointed to an X or dotted line, and then you scribble your signature without even thinking about it? Without even reading what you've signed? Don't worry, you're not alone. A lot of us have done it, but it's not a good thing to do. They're Everywhere Contracts ... READ MORE

Contesting a Contract
Contracts are promises. Promises are supposed to be kept. Sometimes though you don't have to keep your promise, or perform a contract. The law gives several reasons why you're allowed to break a contract. These are called defenses. Sometimes they arise when the contract's created. Sometimes they result ... READ MORE

Contract Modification
When negotiating a contract, or after a contract has been signed, you may have reason to want to modify, or change, the contract. In general, contract modifications require the agreement of all parties to the contract. This article will discuss how to modify a contract before it's been signed and after ... READ MORE

Contract Interpretation
There are rules for interpreting written contracts when there is a dispute among the parties listed in the contract. The courts look to the intent of the parties at the time they entered into the contract. Intention The mutual intention of the parties at the time of the contract governs how the court ... READ MORE

Show Me the Money...Outrage over AIG Bonuses
  Update. In May 2010, the US Department of Justice won't file criminal charges against AIG or its executives AIG bailout totaled $150 billion of taxpayer money Bonuses paid to AIG employees were contractual obligations A breach of contract is a failure to fulfill a promise in a contract Under a clawback ... READ MORE

Assigning a Contract
Contracts can usually be "assigned" to another party, unless the terms of the contract prohibit assignment. When drafting a contract, consider when you want the parties to have the ability to assign their rights and obligations to a third party. ... READ MORE

 

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Contracts Questions

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These issues all revolve around the terms of the agreements AND may involve laws of another country. You will need to hire a lawyer at some expense to see IF there is something that can be done.  ...Read more

I am not sure what you want to happen.  You can sue the person who crashed the car for damages but you owe the loan as to the bank.

Sounds like you do - whether filing suit is a viable resolution is a crap shoot on such a case however as there may be many issues with the enforceabilty of such a contract. 

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How A Corporate Attorney Can Help You Negotiate Master Service Agreements

Do you feel like you waste time developing new contracts for the same services, or worry that you’re exposing your business to risks because you have to negotiate agreements quickly in situation ... Read more

Signed, Sealed and Delivered – Documents in the Information Age

The world has been immersed in the Information Age (a/k/a the Digital Age) for decades now. By way of example, the Texas Uniform Electronic Transactions Act governing electronic contracts passed legis ... Read more

Vagueness Creates Conflicting Expectations for IT Service Provision

Small businesspeople who provide custom IT or other services regularly encounter situations in which their expectations do not match those of the customer. This is surprisingly common in industries su ... Read more

Area you Covered by a “Sufficiently Specific” Indemnity Clause?

By Pannone Lopes Devereaux & West LLC of Pannone Lopes Devereaux & West LLC on Tuesday, December 13, 2016. In a recent Rhode Island Superior Court case, the court once again addressed the ques ... Read more

The key importance of legal counsel’s input on contracts

Conflict down the road. We reference those terms and that obviously undesired outcome on a page of our website discussing contracts in the business world. In fact, we talk a lot about contracts on our ... Read more

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