Contract Drafting

News & Analysis as of

Construction Group News: Arbitrators' Award of Attorney's Fees Thrown Out Because the Parties' Agreement Did Not Provide for It

The Massachusetts Supreme Judicial Court recently voided an arbitration panel’s award of attorney’s fees because the terms of the parties’ arbitration agreement did not specifically provide that the prevailing party could be...more

Fast Facts for Franchisors: The Joint Employer Doctrine – How to Minimize Your Risk

Updating your Franchise Disclosure Document, Franchise Agreement and other system documents is more important than ever. In recent decisions, the National Labor Relations Board and the Department of Labor have increasingly...more

Ghost Offers in Real Estate Transactions

Too Clever by Half - Not so long ago I received a draft agreement of purchase and sale from a practitioner in which he named his purchaser client as “John Doe, in trust, and without personal liability, for a corporation...more

2015 Half-year in review M&A legal developments

We set out below a number of interesting English court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical guidance on...more

10 Significant Physician Contracting Mistakes

1. Failure to Begin with the End in Mind. The most important provisions of your employment contract will be the provisions governing your termination rights, for two reasons. First, if the relationship goes well, chances are...more

A word of caution: does your prepayment indemnity clause work?

The High Court decision in K/S Preston Street v Santander [2012] EWHC 1633 and the more recent decision in Barnett Waddington v RBS [2015] EWHC 2435 highlight the importance of careful drafting of prepayment indemnity clauses...more

"Recent Rulings Underscore Importance of Careful Drafting of Make-Whole Payment Provisions"

Under long-established common law, loans must be paid only upon maturity, not before. This "perfect tender in time" rule is the default rule in a number of jurisdictions. Many indentures and credit agreements therefore either...more

Avoiding Unenforceable Penalty Clauses

The Supreme Court in 2015 reviewed and redefined the rules governing unlawful penalty clauses. The new test considers whether there is a legitimate interest in creating damages or a fine and whether such fine imposes an...more

Regular audits of technology license agreements may reduce your patent royalty payments

Patent license royalty payments can be habit-forming. Some patent licenses have terms extending for potentially two decades or longer. As a result, patent licenses are frequently filed away never to be seen again....more

IP Alert: "Are Your IP Assignments Effective?"

Many assignments of intellectual property are ineffective for failing to actually convey title as the parties intended. U.S. law is clear that only individuals may be inventors, who then may assign their inventions to...more

Hold who harmless? Be careful in drafting indemnity provisions

In another example that there is no “boilerplate” in commercial real estate documents, the California Court of Appeal recently held that an indemnity provision not only covered claims by third parties, but it also covered...more

EU Sanctions: Commercial and Contract Risks

Sanctions programmes are established and developed as a political response to international relations developments; yet they impose significant obligations on commercial entities in terms of compliance. They may interfere...more

White & Case ECB News – Issue 2, 2015: UK Supreme Court judgement on penalties

Earlier this month, the Supreme Court handed down its judgement, clarifying and restating the English law rule against penalties, in the consolidated cases of Cavendish and ParkingEye. The judgement replaces the previous rule...more

Court Of Chancery Explains Change Of Control Clause

This is a potentially significant decision because it interprets a change in control clause to include a change in beneficial ownership of an entity's securities. Hence, not only actual changes in ownership may trigger such...more

Entire Agreement Clauses – do they work or not?

This client alert is intended to provide a summary which considers the effectiveness and limitations of entire agreement clauses. It also includes some suggestions as to how one might seek to enhance their effects to cater...more

Back to basics... Contractual interpretation

It often seems to be the case that contractual wording which seemed crystal clear during negotiations somehow becomes much less clear by the time it has to be looked at again… often at a point in time when the parties are on...more

Drafting an indemnity agreement that works the way the indemnitee expects it to work

Countless indemnity agreements run along these lines: A hereby promises to defend, indemnify, and hold B harmless against all claims [etc.] caused by A’s negligence [etc.]...more

Avoiding Non-Enforcement of Non-Competes

The use of non-competition agreements to protect a company’s relationships and sensitive information is a relatively common practice. What can be less common, however, is careful use of non-competition agreements, with the...more

When Less Is More: The pitfalls of saying too much in professional contracts

Design and other professionals often incorporate their practices in an effort to avoid individual liability. They also add well-crafted limitations of liability and indemnification clauses in their form services contracts to...more

Paying The Penalty? Supreme Court Clarifies Rule Against “Penalty Clauses”

Last week, the Supreme Court of England and Wales issued a judgment that gives some welcome clarification about when a contractual provision may be deemed an unenforceable “penalty clause”. This should help employers draft...more

Enforcement of contractual provisions: the Supreme Court reviews the law on unenforceable penalty clauses

Cavendish Square Holding BV (Appellant) v Talal El Makdessi (Respondent); ParkingEye Limited (Respondent) v Beavis (Appellant) [2015] UKSC 67 - The Supreme Court has upheld the validity of two disputed penalty clauses,...more

Illinois Court Leaves Former Employer Without Remedy After Invalidating Its Overly Broad Restrictive Covenants

Just days before Halloween, the Illinois Appellate Court sent a scary message to employers: We will not enforce or judicially modify your overly broad restrictive covenants! In AssuredPartners, Inc. v. Schmitt, No. 13 CH...more

Don’t Take Needless Chances When it Comes to Personal Jurisdiction, Forum Selection and Choice of Law

Not spelling out in your agreements, even in informal agreements, where disputes can be resolved and what law will govern them can lead to some unhappy results. That is exactly the position that United Excel Corporation and...more

Stendardo Revisited: The Importance of Specifying Obligations in a Mortgage that Continue in Force after a Foreclosure Judgment

In a recent 2015 case, EMC Mortgage, LLC v. Biddle, 114 A.3d 1057, the Pennsylvania Superior Court applied the holding, Stendardo v. First National Mortgage Association, 991 F.2d 1089 (3d Cir.1993), to a case where a mortgage...more

Drafting Employment Agreements – What Can We Learn from Ralph Lauren

One of the little facts that’s not widely known is that the SEC typically publishes all sorts of executive employment agreements for publicly-traded companies. They’re ready and available for download....more

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