Contracts: The Basics

You should always hire an attorney to review your contracts for you. The specific sections and language used in a contract can vary depending on the nature of the agreement and the parties involved. How the language affects your rights can easily be a nuanced question that even other attorneys may not understand. With that said, it's always important to carefully review a contract and seek legal advice if needed before signing.

However, if you are inclined to review your own contract(s), here are the most common sections that are included in most contracts that acts as a general, but non-exhaustive checklist, of topics to address in a contract.

1. Introduction: This section typically includes the names of the parties involved in the contract and the purpose of the agreement. 2. Definitions: This section defines any terms or phrases used throughout the contract to avoid any confusion or misunderstandings. 3. Scope of the Agreement: This section outlines what the contract covers and what it does not cover. 4. Payment Terms: This section details the payment structure, including how much and when payments will be made. 5. Deliverables: This section outlines what the parties are responsible for delivering or providing. 6. Representations and Warranties: This section contains statements made by one or both parties about certain facts or conditions related to the agreement. 7. Termination: This section explains the circumstances under which the contract can be terminated, and how it can be done. 8. Confidentiality: This section outlines any confidentiality requirements or restrictions related to the contract. 9. Intellectual Property: This section deals with ownership and protection of any intellectual property created or used as part of the agreement. 10. Indemnification: This section outlines who is responsible for any damages, losses or expenses incurred during the performance of the agreement. 11. Governing Law and Jurisdiction: This section identifies the law that will govern the agreement, and the jurisdiction in which any disputes will be resolved.

If you are negotiating a contract, or find yourself in a contract dispute, don't hesitate to contact Sperring Law Firm at (484)-250-9058 or csperring@sperringlegal.com.