How to Read Key Clauses in Boilerplate Contracts
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Know how to read contract clauses and fully recognize the risks being taken on.Almost every contract dispute ends up being controlled by the contract terms and conditions. Too often business women and business men sign the contract without fully understanding the agreement they have become bound to. For many, contracts read as if they were a foreign language. This material will teach you how to translate the often convoluted terms of a contract and if there is a problem hidden within a clause, how to deal with that problematic clause. Often, businesses enter into contracts without knowing how to read the clauses and fully recognize the risks they have taken on. The benefit of this information is that you will be able to quickly recognize risky clauses, better understand the risks those clauses create and how to reduce or eliminate those risks before you sign the contract. You will also learn which phrases aggravate that risk and how you can minimize the risk where you have already signed a bad contract.
AuthorsLarry P. Lubka, Lubka & White LLP
What Should Be in Your Contract and What Should Not Be There?
What Clauses Get Contractors and Owners in Trouble?
Incorporations by Reference:
- Industry Standards, General Conditions, Prime Contact, the Bid and More
Why the First Few Paragraphs of the Contract Are so Important
Key Clauses, Including Review of Plans and Specifications, Indemnity, Insurance, Warranty, Payment Requirements, Terminations, Order of Precedence and Much More
Key Phrases That Warn You of Danger, Such as Sole Discretion
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