TL;DR: This is not another explainer on what a contract is or what clauses to include, those are covered in depth in our guides on what makes an agreement legally binding and what should be included in every business contract. This is a working list of practical tips for small business owners who already have […]
Tag Archives: Contract
23
Jun
Jun
TL;DR: Repudiation of contract happens when one party indicates, by words or conduct, that it will not perform its obligations. The innocent party faces a critical choice, called an election: accept the repudiation and terminate (and claim damages), or affirm the contract and keep it alive (riskier, as losses can grow and the right to […]
19
Mar
Mar
TL;DR: Redlining is the process of marking up proposed changes to a contract during negotiation, originally done with red ink and now done through track changes or document comparison tools. The real risk in redlining is rarely the editing itself. It is mismanaged versions, unreviewed accepted changes, and hidden edits that one party makes without […]
29
Jan
Jan
TL;DR: Terminating a contract means legally bringing it to an end before it would naturally expire. You can do it by mutual agreement, under a termination clause, for the other side’s material breach, or where the law allows (such as frustration or repudiation). The single biggest risk is that a badly executed termination becomes its […]
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