Can I Assign My Contract?
Jan 01, 2011
Assignment is essentially the transfer of a property or
rights between two parties: the assignor and the assignee. It is used commonly
by lawyers, businesses, and others who deal with property. The tra...
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What is a Liquidated Damages Clause?
Jan 01, 2011
Liquidated Damages are a fixed sum previously agreed upon to
satisfy a specific failure in performance or breach of agreement that is specifically
mentioned in the contract.
Essentially, a party fail...
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What is a Force Majuer Clause?
Jan 01, 2011
Force Majeure is a common clause inserted into contracts
that states neither party is liable for failure to fulfill their obligations
and that neither party has the right to terminate the agreement for...
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What is an Integration Clause?
Jan 01, 2011
An integration clause, also called an "entire agreement" or "incorporation" clause, states that the entire agreement
between parties consists only of what is written in the agreed upon contract.
The in...
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What is a Choice of Venue Clause?
Jan 01, 2011
Often times, for the Choice of Law clause to be effective, a
Choice of Venue clause should accompany it. The Choice of Venue clause states
the location that both parties agree upon to address all poten...
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What is a Choice of Law Clause?
Jan 01, 2011
Choice of Law refers to a clause in transactions and
contracts that states, upon a dispute between parties, what jurisdictions law
is to be utilized; essentially, it indicates the law that will be used...
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What Is an Acceleration Clause?
Jan 01, 2011
The acceleration clause is an agreement in a contract that
states the occurrence of certain and specified events will allow the lending
party to call for the entire amount of payment immediately due in...
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When You Can Specify Damages In a Contract
Jul 21, 2010
Liquidated damages are the fixed sum previously agreed upon to satisfy a
specific failure in performance or breach of agreement that is particularly
mentioned in the contract. Essentially, the party th...
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Proper Use of Letter of Intent or Memorandum of Understanding
Jul 21, 2010
A memorandum of understanding is an agreement between two
parties in the form of a legal document. It is not fully binding in the way
that a contract is, but it is stronger and more formal than ...
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Statute of Limitations in California
Jul 21, 2010
A statute of limitations is a law which places a time limit on pursuing a
legal action in relation to a breach of contract; essentially, it is the
prescribed time limit in which a lawsuit must be filed...
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