Earlier this year, we covered some common contract clauses that can be found in agreements that span countless industries. Also known as boilerplate clauses, these provisions touch upon many important aspects of the contractual relationship. Knowing the impact these clauses have on the overall effectiveness and longevity of an agreement can best prepare you to negotiate effectively. Below you will find a breakdown of the five most common contract clauses, as well as some sample clause language:
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As the gig economy continues to rise, replacing the traditional company structure of having full-time employees focused on career development, with independent contractors or freelancers, the ways in which companies seek and hire talent has changed significantly. While the pros and cons of this type of economy are constantly up for debate, one thing remains true, freelancers that possess unique skills and considerable talent can really cash in on their expertise and the value they can bring to companies, big and small. Companies continue to lean on freelancers for writing engaging articles, crafting unique menus for restaurants and even drafting legal documents for litigation or transactional matters.
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Although verbal contracts are just as enforceable as written ones, the benefits of putting your agreement in writing far outweigh the costs. The days of shaking hands and hoping for the best are behind us, and COVID may have helped put an end to this relic of the past. Written contracts are far more common today and have become pivotal in -- facilitating business transactions, creating mortgages, transferring ownership of property, and securing employment.
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Although generally disfavored by New York Courts, non-compete clauses/agreements are still considered enforceable in New York, so long as they meet some basic guidelines. For the most part, any restriction on a person's ability to earn a livelihood will be heavily scrutinized by courts; however, there are equally legitimate interests that employers have a right to protect.
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While no two contracts are alike, most will include boilerplate clauses that can be found in a wide variety of agreements. These common clauses are usually located towards the end of a contract and cover some basic understandings between the parties. Knowing the impact these clauses have on the overall effectiveness and longevity of an agreement can best prepare you to negotiate effectively. Below you will find a breakdown of the five most common contract clauses, as well as some sample clause language:
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The last eight months have changed all of our lives in ways we never could have imagined. More people are working from home, schooling your children over zoom is a nightmare and trying to plan otherwise celebratory events like weddings has become a complete and total mess. For those who planned on getting married this year, they were quickly confronted with the complications that accompany COVID, most especially, the state and local mandated shut downs and now, the indoor occupancy limits.
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Black’s Law Dictionary defines “force majeure clause” as “a contractual provision allocating the risk if performance becomes impossible or impracticable as a result of an event or effect that the parties could not have anticipated or controlled.” Among the countless questions that have been raised during the coronavirus pandemic, one that seems to pop up frequently is whether the coronavirus is grounds for allowing a party to avoid performing their obligations under a contract. The answer really depends on the language in the contract and how New York law interprets these clauses, which unfortunately, is quite narrowly.
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While no two contracts are exactly the same, there are five common clauses that should be found in any well-written contract. No matter the complexity of the contract terms, the five clauses discussed below cover important aspects of the agreement between the parties, including, what happens if the contract is breached, which State law decides how the contract terms are interpreted if the contract is disputed in court, and whether the contract includes any side conversations related to specific terms in the contract.
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