Contract Drafting

News & Analysis as of

PilieroMazza Legal Advisor - Third Quarter 2015

NOW’S THE TIME FOR SBA TO EXPAND WOSB-ELIGIBLE INDUSTRIES - On May 1, 2015, the U.S. Small Business Administration issued a proposed rule to amend its regulations to implement Section 825 of the National Defense...more

The Heat of the Moment: When Inking That Big Deal, Make Sure Dispute Resolution Provisions Are on Your Checklist

The strength of the Seattle area economy has been attracting both national and international attention. The bird that is synonymous with economic activity — the construction crane — is visible from downtown to South Lake...more

(US) Commercial Real Estate Brokerage Agreements: Imprecise Commisson Language Can Cost You

It would be unfair (and likely bad faith) for a property owner to terminate a brokerage agreement prior to entering into a sales agreement or lease just to avoid paying a real estate commission. Yet, if a property owner is...more

Dangers of a Self-Drafted Letter Agreement

Court Unwilling to Impose a Reasonableness Limit on Expenditures - Exploration expenditures incurred to earn into a mining claim did not have to be reasonable, the B.C. Court of Appeal recently held in American Creek...more

Fee Advancement Considerations Arise From Recent Delaware and Third Circuit Decisions

Recent decisions by the US Court of Appeals for the Third Circuit and the Delaware Court of Chancery have raised important issues regarding fee advancement bylaws or policies of Delaware corporations. Please see full...more

The LLC Operating Agreement - Why Is It Important And What Should It Say?

An LLC is a fairly limitless business form. Generally, an LLC can be and act in any number of ways, tailored to how you want your company to operate. The Kentucky LLC statute provides several gap-filler provisions, but most...more

What Should Be in Your Physician Shareholder Agreement?

Prior to partnering with one or more physicians, doctors should consider drafting a shareholder agreement that outlines the terms of the relationship, as well as the goals of the corporation. Shareholder agreements anticipate...more

Drafting Valid Damages Provisions in Settlement Agreements

Often thought of as a formality that should take minimal effort and expense to prepare, the drafting of the settlement agreement can quickly turn into a “devil in the details” scenario. One or more of the parties to the...more

If You Reach A Settlement At Mediation, And Say The Settlement Will Be The Subject Of A Forthcoming Formal Agreement, Do You Have...

You have most likely walked out of a mediated settlement conference at which the shorthand version of the settlement put to paper by the lawyers and the mediator stated that there would be a later, more detailed agreement. ...more

Know What You Are and Are Not Giving Up in a Release

Because over 95 percent of civil disputes are resolved without a final judgment, parties routinely enter into settlement agreements that include releases. Further, for those disputes that do not spawn formal litigation, it is...more

Unfair Contract Terms Regime to Protect Small Business

On 24 June 2015, the Federal Minister for Small Business, the Hon Bruce Billson MP, introduced the Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015 (Bill) into Parliament which will extend...more

Top Ten Construction Clauses: Change Orders and Change Directives

Construction contracts typically provide for changes in the scope of work through change orders, construction change directives and orders for minor changes. AIA Document A201-2007 and the ConsensusDocs Standard Agreement...more

When Commercial Sense is Not Commercial Sense: Arnold v. Britton and others [2015]

Background - The Supreme Court has handed down judgment in a service charge case that has major relevance to contractual interpretation in general. The central issue concerned when the Court should give weight to...more

Considerations in Drafting Limitations of Liability for Data Breaches

Until very recently, it was considered matter of course in a services agreement for any data disclosure or loss, regardless of cause, to be excluded from any and all limitations of the vendor’s liability. However, as data...more

Save Money with Your Commercial Lease Agreement

Your business could be losing money if it does not have a properly drafted and negotiated commercial lease agreement. Too many leases are hastily put together, causing businesses to miss out on opportunities for relief, or...more

Tips on Avoiding the Unsettling Results of a Poorly-Drafted Settlement Agreement

Well done! Through your reasoned approach and powers of persuasion, you have managed to resolve the pending contract dispute on your own, and thus have avoided that costly telephone call to the litigator in your attorneys’...more

Hooli Needs New Lawyers on “Silicon Valley”

As is obvious from our many posts on the subject, we here at IP Legal Forum are big fans of the show “Silicon Valley.” That said, its season finale could have used more Jared Dunn (can we give him a spin-off already?), as...more

Alabama’s New Non-Compete Statute: Are You Ready For New Year’s Day?

Those involved in drafting, negotiating, or litigating covenants-not-to-compete in Alabama have long known that Alabama’s statute books seldom provide ready answers on this particular topic. The text of current Alabama Code...more

Are Delaware Directors Deathless?

I’ve noticed that the drafters of corporate laws seemed to have overlooked the mortality of directors.  Section 141(b) of the Delaware General Corporation Law, for example, prescribes the term of directors as follows...more

Choice of Law and Liquidated Damages

Two weeks ago, I participated on a panel for a webinar on liquidated damages with three other panelists from New Jersey, Florida and Texas. In preparing with the other panelists, I was surprised to learn that while there are...more

Play Fair: Guidelines for New Employees Hired from a Competitor

It’s common for customers or clients to want to stick with the person who has been handling their account even when that person moves to a different company. But this situation can create serious issues around trade secrets...more

Is Garden Leave Overrated?

The value of garden leave - Including express 'garden leave' provisions into the contracts of employment of key executives in the UK has long been seen as a key aspect of an employer's armoury in relation to the...more

Court Of Chancery Limits Conditional Advancement Contracts

As in the past, the Court of Chancery again rejects this effort to welch. Notwithstanding a charter and bylaw provision that gave a former director the broadest rights to advancement, the company had him sign an undertaking...more

Liquidated Damages Can Create a Cap on What You Can Recover

When thinking about liquidated damages, most people focus on the fact that a properly drafted liquidated damages provision will enable the non-breaching party to recover a set amount without ever having to prove how much, if...more

Shares “Of” Or “In” The Corporation?

A colleague recently asked: “Which is correct – shares in the corporation or shares of the corporation?”  There are two approaches to answering the question – prescriptive and descriptive. I couldn’t find any...more

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