Overcoming Obstacles

March 18th, 2024
On January 1st, I set a goal to run at least 1 mile every day for a month to better manage stress and enhance my overall health. What began as a short-term resolution has evolved into a 78-day, 160+ mile journey, filled with unexpected hurdles. My ru… Read More
Read More
Categories: Business Contracts

Avoiding Effective Date Confusion

October 4th, 2023
Posted By
Shawn M. Peddycord
Imagine that… Three years from now you want to terminate a contract for your business. The termination clause is clear — written notice must be given to the other party at least 30 days before the third anniversary of the Effective Date. You… Read More
Read More
Categories: Business Contracts

NEGOTIATING PAYMENT TERMS

October 28th, 2022
Payment terms may seem relatively straight-forward but can lead to potential issues if not dealt with up front in a contract. Fees and Payment Terms Rarely do parties disagree whether a contract should include the amount of fees a customer would pay… Read More
Read More
Categories: Business Contracts

Contract Risk Allocation

August 8th, 2019
Posted By
Shawn M. Peddycord
There is an extensive body of law that describes the types and amounts of damages available if either party breaches a contract. Yet most contracts include terms that allocate more risks to one party, and less risk to the other party. Generally, ther… Read More
Read More
Categories: Business Contracts

Components of a Contract

June 26th, 2019
Posted By
Shawn M. Peddycord
Contracts are easier to understand if broken down into parts. Unfortunately, those parts (and the labels to identify them) vary greatly from contract to contract. Generally though, business contracts are organized like this: 1. The Beginning of the C… Read More
Read More
Categories: Business Contracts

Nondisclosure Agreements

May 23rd, 2019
Posted By
Shawn M. Peddycord
The most common type of business-to-business contract is the Nondisclosure Agreement (NDA). Why are NDAs important? NDAs permit a company to disclose valuable information to another company, while protecting the confidentiality of that information. T… Read More
Read More
Categories: Business Contracts

5 Ways to a Simpler Contract

May 6th, 2019
Contracts should be drafted clearly, not with Shakespearian flourish. Words and styles should be reasonably understood by the people signing the contracts. Contracts should be written in plain English. Instead of saying this: “Now, therefore, in co… Read More
Read More
Categories: Business Contracts

What are Reps and Warranties?

March 4th, 2019
Posted By
Shawn M. Peddycord
Representations and warranties (sometimes called “Reps and Warranties”) appear in many types of agreements. Although similar, representations and warranties have important differences. Representations are statements of present or past facts, whil… Read More
Read More
Categories: Business Contracts

I thought you said…The Importance of Merger Clauses

February 11th, 2019
Posted By
Shawn M. Peddycord
Imagine this scenario: The President of Company X is negotiating with the President of Company Y to acquire certain assets for $100,000. Negotiations have stalled but both parties want to close the transaction. So President Y tells President X on the… Read More
Read More
Categories: Business Contracts

What is Indemnification?

January 17th, 2019
Posted By
Shawn M. Peddycord
Contract negotiations can be complicated, especially when they involve legal issues. One of the most frequently negotiated contract provisions is indemnification, which is found in most business-to-business contracts. Indemnification is about risk al… Read More
Read More
Categories: Business Contracts