| UNIT 9CONTRACTS: CONTENT & PRESENTATION |
Disclaimer:
Contracts may have legal, financial, or other implications, and you should seek professional advice before completing or signing any such documents. All text included in this unit has been used for illustrative purposes only. Neither the writer nor the Center for Continuing Education (CCE)-University of Danang shall be liable for their contents or use.
9.1 Introduction
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| ambiguity [n] | : sự mơ hồ, nhập nhằng |
| ambiguous [adj] | : mơ hồ, nhập nhằng |
| arbitration [n] | : sự phân xử |
| arbitrator [n] | : người phân xử, trọng tài, thẩm phán |
| irrespective of [adj] | : bất kể, bất chấp |
| obscure [v] | : làm cho khó hiểu |
| prior to [prep] | : trước khi |
| vaguely worded [adj] | : diễn đạt mơ hồ, khó hiểu |
In the previous units you will have discovered that the vocabulary and structure of English used in business correspondence is very different from the way the language is used in everyday speech. We will now be looking at the form of English used in contracts, which is even more formal in vocabulary and structure.
Many native speakers would have difficulty in recognising some of the vocabulary used in contracts. Some of the words are very old fashioned and rarely used in everyday speech. Meanings can be further obscured by the use of Latin phrases, which are recognised in law.
UNIDROIT, The International Institute for the Unification of Private Law, is an intergovernmental organisation first established in 1926. Their function can best be described by reading this official statement.
"...The objective of the UNIDROIT Principles is to establish a balanced set of rules (for commercial contracts) designed for use throughout the world irrespective of the legal traditions and the economic and political conditions of the countries in which they are to be applied...”
The objective, if achieved, would greatly simplify international business, but try to understand just one of the many rules of contract law that they propose that all states should adopt legally. If you can work out the meaning, then you are probably a lawyer!
Many native speakers would have difficulty in recognising some of the vocabulary used in contracts. Some of the words are very old fashioned and rarely used in everyday speech. Meanings can be further obscured by the use of Latin phrases, which are recognised in law.
UNIDROIT, The International Institute for the Unification of Private Law, is an intergovernmental organisation first established in 1926. Their function can best be described by reading this official statement.
"...The objective of the UNIDROIT Principles is to establish a balanced set of rules (for commercial contracts) designed for use throughout the world irrespective of the legal traditions and the economic and political conditions of the countries in which they are to be applied...”
The objective, if achieved, would greatly simplify international business, but try to understand just one of the many rules of contract law that they propose that all states should adopt legally. If you can work out the meaning, then you are probably a lawyer!
The situation is different if the parties agree to submit disputes arising from their contract to arbitration. Arbitrators are not necessarily bound by a particular domestic law. This is self-evident if they are authorised by the parties to act as amiable compositeurs or ex aequo et bono.
Because contracts tend to use the same vocabulary that is contained in the laws that govern them, they can be very difficult to understand. However, you should never sign a contract written in English unless you are absolutely certain of what you are signing, and pay particular attention to any Latin phrases (e.g. ex aequo et bono), which have a very exact legal meaning.
Signing contracts: Before you enter into a contract you should consider the following guidelines:
• Read the contract very carefully a number of times
• Consider taking professional advice
• Note anything that is ambiguous or vaguely worded for further clarification
• Note anything that you don’t agree with for further discussion
• List any additions, deletions and/or changes that you feel are necessary
• Discuss all amendments to the contract with the other party or parties
• Make sure any agreed amendments have been made prior to signing (oral agreements are difficult to enforce and may not be legally binding)
• Review the contract again, before signing
• Make sure you obtain a legally valid copy of the contract
9.2 What is a contract?
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| adhere (to) [adj] | : tôn trọng, tuân theo |
| enforceable [adj] | : có thể thi hành |
| fulfil [v] | : thực hiện, hoàn thành (nhiệm vụ) |
| obligation [n] | : nghĩa vụ |
| transaction [n] | : giao dịch |
Some national laws makes it very easy to enter into contracts. Simple day-to-day transactions, such as buying a railway ticket, can constitute a legally enforceable contract. Although the transaction is only by word of mouth and nothing has been signed, offer of payment by the buyer and acceptance by the seller amount to a binding contract.
Only some types of contract (property and commercial dealings being the most common) must be made in a formal written way to be effective, and it is that type of contract which we will examine in this unit.
A written contract serves as a guide to an agreement that must be adhered to by both parties. It gives each party the opportunity to:
Only some types of contract (property and commercial dealings being the most common) must be made in a formal written way to be effective, and it is that type of contract which we will examine in this unit.
A written contract serves as a guide to an agreement that must be adhered to by both parties. It gives each party the opportunity to:
• Describe all obligations the parties are expected to fulfil
• Set conditions, such as a time frame, in which the terms of the contract will be met
• Set terms of a sale of products, or provision of service
• Establish payment terms
• Clearly establish all of the responsibilities and risks of the parties
• Limit any liabilities
The OED (Oxford English Dictionary) defines a contract as:
a) a binding agreement between two or more persons or parties, especially one that is legally enforceable
b) a business arrangement for the supply of goods or services at a fixed price
The definition is useful but needs a little more explanation; a contract is also a writtenmeeting of the minds, i.e. what each party believes the other party (or parties) has promised to do.
Review of sections 9.1 & 9.2
When dealing with a contract, which of these statements is True, and which is False? MarkT or F in the box.
1. I don’t understand Latin, so it’s best to ignore any Latin phrases
2. Contracts don’t have to be in writing
3. I trust the people who wrote the contract, so I don’t need to read it carefully
4. Contracts can be amended at any time prior to signature
5. A signed contract is a legally binding agreement
2. Contracts don’t have to be in writing
3. I trust the people who wrote the contract, so I don’t need to read it carefully
4. Contracts can be amended at any time prior to signature
5. A signed contract is a legally binding agreement
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9.3 What are the legal requirements for a contract?
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| conform (to) [v] | : tuân theo, chiếu theo |
| duress [n] | : sự cưỡng ép, ép buộc |
| formalise [v] | : chính thức hoá |
| handicapped [adj ] | : tàn tật, khuyết tật |
| impaired [adj] | : suy yếu, suy giảm |
| induce [v] | : thuyết phục, thúc đẩy |
| restrain [v] | : cản trở |
| signatory [n] | : người (tổ chức, nước..) ký kết |
| undue [adj] | : không đúng pháp luật, phi pháp |
| void [adj] | : mất hiệu lực, mất giá trị |
As we have seen, contracts are promises that the law will enforce, but to make a typical contract legally valid it must conform to some basic rules. In the event of a contract dispute, here are four rules that a court would usually expect the parties to have considered when the contract was signed:
1. Offer and acceptance
It must be demonstrated that the parties mutually and fully understood and agreed (a meeting of minds) about what was being offered. This means that the parties are talking about the same product or service, which seems obvious until, for example, you receive a shipment of nails when you thought you were buying screws. Both could be described asmetal items for holding wood fixed together, but their respective method of use and cost of manufacture are significantly different.
It must be demonstrated that the parties mutually and fully understood and agreed (a meeting of minds) about what was being offered. This means that the parties are talking about the same product or service, which seems obvious until, for example, you receive a shipment of nails when you thought you were buying screws. Both could be described asmetal items for holding wood fixed together, but their respective method of use and cost of manufacture are significantly different.
2. Consideration
Something of value must be exchanged in order to create a valid contract. Usually one party provides goods or services in exchange for payment by the other party. Consideration can take other forms, but it must be something of value, that is sufficient to induce the other party to enter into the contract. In legal terms this could be summed up as:
Something of value must be exchanged in order to create a valid contract. Usually one party provides goods or services in exchange for payment by the other party. Consideration can take other forms, but it must be something of value, that is sufficient to induce the other party to enter into the contract. In legal terms this could be summed up as:
To be legally binding as a contract, a promise must be exchanged for sufficient consideration.
This means that if a contract was demonstrated to be unfair or unreasonable, then a court could declare that it was void.
3. Intention to create legal relations
No contract exists unless the law recognises intention to create legal relations. When both parties understand the essentials of the agreement and understand what type of consideration will be exchanged by each party, they are ready to formalise matters. Usually the parties demonstrate that negotiations have ended and an intention to create legal relations has been established by signing a contract. (Before reaching this stage some companies may issue a Heads of Agreement document or a Letter of Intent, particularly when complex conditions are involved. - see Unit 10 for further details)
No contract exists unless the law recognises intention to create legal relations. When both parties understand the essentials of the agreement and understand what type of consideration will be exchanged by each party, they are ready to formalise matters. Usually the parties demonstrate that negotiations have ended and an intention to create legal relations has been established by signing a contract. (Before reaching this stage some companies may issue a Heads of Agreement document or a Letter of Intent, particularly when complex conditions are involved. - see Unit 10 for further details)
4. Absence of voiding factors
A court will have to be satisfied that the signatories to a contract were legally competent. Different national laws will apply, but in most countries the following people may not be considered competent signatories:
A court will have to be satisfied that the signatories to a contract were legally competent. Different national laws will apply, but in most countries the following people may not be considered competent signatories:
• Persons who lack authority: The person signing on behalf of a company or other person must have the legal authority to do so.
• Minors: People under a certain age usually cannot enter into contracts without the additional signature of their parents or guardians.
• Persons not of sound mind: These could be people who are mentally handicapped, or impaired by the use of drugs or alcohol, to such an extent that they cannot understand the significance of their acts.
Illegal contracts are also considered void or non binding. Some examples of illegal contracts are those that:
• Were signed under duress (e.g. the threat of physical violence)
• Were signed under undue influence (e.g. pressure from a relation or a lawyer)
• Involve illegal consideration (i.e. the sale of illegal products or services)
• Involve illegal conspiracy
• Restrain fair trade
9.4 Guidelines for drafting a contract
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| assume [v] | : cho rằng, giả định |
| assumption [n] | : giả định |
| come into effect | : có hiệu lực thi hành |
| draft [v, n] | : phác thảo, bản phác thảo |
| liability [n] | : trách nhiệm pháp lý |
| liable (for) [adj] | : có trách nhiệm pháp lý |
| provision [n] | : điều khoản |
| recital [n] | : sự tường thuật chi tiết, đoạn văn kiện nêu sự kiện |
| take charge of | : chịu trách nhiệm |
| tedious [adj] | : chán ngắt, làm mệt mỏi |
The objective is to create a description of the agreement that has clarity and completeness, but it’s easier said than done. As we saw in the introduction to this unit, the vocabulary of contracts can be very difficult to understand, but if you are drafting a contract then you have the chance to use simpler language.
Reading and understanding contracts can be difficult and tedious but drafting them can be even more challenging. However, well-drafted contracts are vital in business, because they spells out the rights and obligations of each party and protect you and your business. A good contract is a valuable business asset, but a bad contract can be disastrous. Here are some practical guidelines for a contract that is good for you:
Reading and understanding contracts can be difficult and tedious but drafting them can be even more challenging. However, well-drafted contracts are vital in business, because they spells out the rights and obligations of each party and protect you and your business. A good contract is a valuable business asset, but a bad contract can be disastrous. Here are some practical guidelines for a contract that is good for you:
1. Take charge of the contract
There is a tremendous advantage to the writer of a draft contract, because you can include clauses that you want and structure an agreement in a favourable way for your business. Determine your objectives and how important they are to you, and don’t be afraid to include conditions that are suitable for you, without being unreasonable. Until signed, contracts terms are negotiable and the other party has the right to ask for clauses to be modified if they don’t like them.
There is a tremendous advantage to the writer of a draft contract, because you can include clauses that you want and structure an agreement in a favourable way for your business. Determine your objectives and how important they are to you, and don’t be afraid to include conditions that are suitable for you, without being unreasonable. Until signed, contracts terms are negotiable and the other party has the right to ask for clauses to be modified if they don’t like them.
Writing the first draft is hard work but it will be to your benefit because it allows you to:
• Take a strong negotiating position: the other party will be dealing with your conditions before their own
• Define the obligations
• Include conditions favourable to your business, especially payment terms
• Avoid the difficulties of negotiating the other party’s draft, which could take longer than writing the draft yourself
2. Refer to sample contracts and forms
The best way to begin drafting a contract is to look at sample of forms that are similar to the document you want to create. Sample forms can make you aware of issues you might not have considered, and they can provide good, standard, legally tested language for your contract. The internet is an excellent source of
material.
The best way to begin drafting a contract is to look at sample of forms that are similar to the document you want to create. Sample forms can make you aware of issues you might not have considered, and they can provide good, standard, legally tested language for your contract. The internet is an excellent source of
material.
3. Don’t rely on sample contracts
Although they can provide a guideline, a sample contract may not be appropriate to your situation. Use the sample simply as a starting point and then modify it for your particular circumstances. Lengthy, complicated contracts are not always necessary. What is important is making sure that you have accurately described the obligations and expectations of the parties.
Although they can provide a guideline, a sample contract may not be appropriate to your situation. Use the sample simply as a starting point and then modify it for your particular circumstances. Lengthy, complicated contracts are not always necessary. What is important is making sure that you have accurately described the obligations and expectations of the parties.
4. Create your own standard contract
If you are likely to enter into similar agreements then take the time to create your own standard form for that type of contract. You can then present the other party with your ideal contract terms, and negotiate from a strong position. If you have never written a legal document before, seek professional advice, but be sure to use a lawyer with experience in your field of business. Tell the lawyer what you want to be
included.
If you are likely to enter into similar agreements then take the time to create your own standard form for that type of contract. You can then present the other party with your ideal contract terms, and negotiate from a strong position. If you have never written a legal document before, seek professional advice, but be sure to use a lawyer with experience in your field of business. Tell the lawyer what you want to be
included.
5. Write clearly
Avoid ambiguous language that can lead to misunderstandings, delays, frustration, legal argument and considerable expense. Make sure that the parties’ responsibilities are clearly outlined. It is not sufficient for the parties to understand the agreement in their own minds; if a dispute arises, the court must also be able to understand it.
In legal terms this could be stated as:
Avoid ambiguous language that can lead to misunderstandings, delays, frustration, legal argument and considerable expense. Make sure that the parties’ responsibilities are clearly outlined. It is not sufficient for the parties to understand the agreement in their own minds; if a dispute arises, the court must also be able to understand it.
In legal terms this could be stated as:
The terms of an agreement must be sufficiently definite and certain to be legally enforceable.
6. Draft complete contracts
Many contracts fail or create confusion because they are incomplete. If you have agreed to something, then make sure it’s in the contract.
Incompleteness is a common fault when drafting contracts, so don’t rely on mutual understanding or implication. Make sure that all relevant statements or representations or mutual agreements by the parties are clearly stated. These could include:
Many contracts fail or create confusion because they are incomplete. If you have agreed to something, then make sure it’s in the contract.
Incompleteness is a common fault when drafting contracts, so don’t rely on mutual understanding or implication. Make sure that all relevant statements or representations or mutual agreements by the parties are clearly stated. These could include:
• What is the reason (the Recitals) for entering into an agreement with the other party?
• Did the other claim a particular expertise or commercial experience that is vital to the agreement?
• What did the other party agree that they would do for you and what did you agree to do
in return?
• When did the parties agree this would happen?
• Were special circumstances or conditions discussed in negotiating the agreement, which led you to make an agreement with this particular organisation?
• Is there a critical deadline for receiving goods or services?
• Was there a particular event or condition that was to occur before the contractual obligations came into effect?
7. Don’t make assumptions
Don't assume anything when drafting the agreement. Make your expectations explicit. Examples might include:
Don't assume anything when drafting the agreement. Make your expectations explicit. Examples might include:
• If purchasing a product, do not assume that the seller will supply the usualaccessories. Clearly describe the product and any accessories, attachments or documentation you expect to receive.
• Don’t assume that goods or services will be delivered within a certain time. Include a Time of the Essence clause that makes the supplier liable for damages if there’s a delay.
• Don’t assume that goods will be shipped to the port you require. If your business is in Hanoi, you probably don’t want the goods to arrive at Saigon Port.
• Make sure the Incoterms of sale for goods are specified.
8. Be aware of legal requirements
Certain types of contract provisions may not be legally valid, and other provisions may need careful explanation. Again, seek professional advice, but be sure to use a lawyer with experience in your field of business.
Certain types of contract provisions may not be legally valid, and other provisions may need careful explanation. Again, seek professional advice, but be sure to use a lawyer with experience in your field of business.
Review of sections 9.3 & 9.4
When dealing with a contract, which of these statements is True, and which is False? MarkT or F in the box.
1. To be legally binding as a contract, something of value must be exchanged
2. A Heads of Agreement may be issued before the contract is completed
3. Any adult person can sign a contract on behalf of an organisation
4. An incomplete contract can be declared as void by a court of law
5. An illegal contract cannot be declared as void by a court of law
6. An contract containing ambiguous language can be declared as void by a court of law
7. It’s safe to make assumptions
8. Drafting a contract doesn’t give the writer an advantage
1. To be legally binding as a contract, something of value must be exchanged
2. A Heads of Agreement may be issued before the contract is completed
3. Any adult person can sign a contract on behalf of an organisation
4. An incomplete contract can be declared as void by a court of law
5. An illegal contract cannot be declared as void by a court of law
6. An contract containing ambiguous language can be declared as void by a court of law
7. It’s safe to make assumptions
8. Drafting a contract doesn’t give the writer an advantage
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9.5 What should a contract contain?
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| breach [n] | : sự vi phạm |
| default [n] | : sự bỏ cuộc, không thực hiện được |
| excess [n] | : sự vượt quá |
| intermediary [adj] | : trung gian, đóng vai trò hoà giải |
| remedy [n] | : biện pháp cứu chữa, sự khắc phục |
| render [v] | : hoàn lại , trả lại |
| suspend [v] | : đình chỉ, tạm ngưng |
| terminate [v] | : chấm dứt, kết thúc |
| validate [v] | : thông qua, làm cho có hiệu lực |
There is no such thing as a standard contract that is suitable for every situation, because the terms and conditions can, and do, vary greatly, subject to the requirements and obligations of the parties involved. There are, however, some core elements and clauses that should be included because they apply in most contractual situations (with the possible exception of employment contracts). These can be said to be:
1. Identity of the parties: full registered trading names and full registered address of the parties (or full name and permanent address of an individual)
2. Full names and titles: full names and titles of the people signing (the signatories) and the capacity, or title, in which they do so (see section 9.4 for more details)
3. Signature of the parties: usual signature of the signatories and the date of signing (some nations may also require the signature of a witness to validate a contract)
4. Recitals: language at the beginning of the contract that gives reasons for the parties entering into an agreement. Recitals are not always legally enforceable, so important terms should always be repeated in the body of the contract after words such as the parties agree as follows...
5. The object or essentials: full description and specification of what goods are to be sold or what services are to be rendered, and their quantity and quality (see section 9.4 for more details)
6. Price: include discounts and any other charges that may be incurred, and how and when the money will be paid. A good contract should answer these questions:
• How much is being paid?
• What are the Incoterms of sale
• Who is paying?
• When must payment be made?
• What must happen before payment is required?
• What is the method of payment (letter of credit, bill of exchange, bank transfer, etc.)
7. Obligations of the parties: in this area, vague or unclear terms and conditions are a primary cause of international trade problems. It doesn't take much for a minor dispute about obligations to turn into a major problem that creates bad feeling and could be expensive to resolve. A good contract should answer these questions:
• What is each party obliged to do?
• By what date must the obligations be performed?
• What quality standards must be met for the obligations to be deemed as fulfilled?
8. Other times and dates: intermediary deadlines (for contracts covering successive supplies or services), and any other relevant deadlines
9. Penalties for delays or failure to perform: this is usually covered in a clause headedDefault or Breach, and covers the rights of the parties to seek a remedy in the event of violation of the contract. Minor breaches are usually dealt with by mutual agreement, but a major breach or default may have serious consequences, especially if the contract provides for remedies for the non-breaching party. These could include:
• The right to recover damages (usually financial)
• The right to suspend the contract
• The right to terminate the contract
10. Limitation of liability and risk: if the contract contains a default or breach clause, then the maximum liabilities of the parties to each other should be clearly defined. There are numerous possibilities, subject to the complexity of the contract, but some common conditions are:
• Neither party will be responsible for indirect or consequential damages to the other party arising out of the contract
• Neither party will have liability in excess of the amount to be received under the contract.
• A liquidated damages provision in which the parties agree that the damages paid on a breach will be a fixed amount that is determined when the contract is signed.
11. Emergency situations: this clause is usually headed Force Majeure, which is defined legally as:
That part of a contract which cannot be performed due to causes which are outside the control of the parties and could not be avoided by the exercise of due care.
It’s purpose is to protect the parties from liability for breach or default that result from unpredictable events, especially from what are referred to as Acts of God, such as flood and earthquake. Force Majeure also covers such events as war and civil unrest, and in recent years the scope has widened to include technological failure.
12. Other clauses: Do remember that the above are only suggested, basic inclusions. A contract can contain numerous other clauses that are necessary for spelling out the parties’ obligations.
9.6 Boilerplate clauses
Words & Expressions:
Be sure you know all these words. Click to learn how each word or phrase is pronounced:
| boilerplate (clause) [adj] | : (điều khoản) phòng khi có tranh chấp |
| consent [n] | : sự đồng ý, tán thành |
| designate [v] | : chỉ định, bổ nhiệm |
| jurisdiction [n] | : phạm vi pháp lý, quyền hạn xét xử |
| prevailing[adj] | : thắng thế |
| prohibition [n] | : sự ngăn cấm |
| supersede [v] | : thay thế |
Most contracts include boilerplate or miscellaneous clauses, which usually appear at the end of the document. The term boilerplate refers to those clauses which govern the general operation of the agreement and the respective rights of the parties; they are often referred to as the small print of a contract. Their main purpose is to protect the parties in the event of a legal dispute.
Because boilerplate clauses are there for when things go wrong, and don’t deal with the essence of the agreement, people sometimes don’t pay any attention to them, which can be an expensive mistake. They usually include very important conditions which are essential to the effective enforcement of rights under the contract, and in some instances may grant or take away important rights.
The clauses included under this heading will depend upon the complexity of the contract, but some of the more common clauses would be:
1. Attorney’s fees provisions: if a contract dispute arises between the parties, this clause states that the prevailing party will be awarded its attorney’s fees and related costs.
2. Consent to jurisdiction/Applicable law: this clause establishes where any disputes between the parties must be resolved and whose laws will govern the jurisdiction. For example, if you are a Hanoi based seller, and the buyer is in Australia, you will want the contract to state that all disputes must be resolved in Hanoi.
3. Arbitration: in the event of a dispute, this clause requires that the dispute be resolved by binding arbitration, and not through the courts (litigation). The clause must designate the arbitrator, what arbitration rules must be followed and where the arbitration will be held.
4. Entire agreement: this clause typically states that the contract is the final, complete and total expression of the parties' agreement, and helps to prevent a party from claiming that there are other promises or terms to the deal that are not explicitly set out in the contract. It supersedes all previous understandings or agreements of the parties.
5. Modification of agreement: this clause states that agreement may be amended, or modified only by the mutual, written agreement of the parties. This clause prevents someone from claiming that any provisions of the contract were verbally changed.
6. Ambiguities: this clause is important if you drafted the contract. There's a general principle of law that holds the drafter responsible for ambiguities. Any ambiguous language in the contract shall be interpreted as to its fair meaning, and not strictly for or against either party.
7. Assignment: this clause sets outs the rights or prohibition on the assignment , or transfer of interests, of the contract. Usually, contracts are non-assignable, but if both parties agree to allow assignment under certain circumstances, the parties may transfer their interests to someone else.
8. Notice: this clause states how any notices must be delivered by the parties and to whom. For example, this could be written notice of modification, termination, breach, etc. Email or fax may not be acceptable because the writer requires a receipt for delivery of the notice.
There are other boilerplate clauses that may be appropriate for your particular business and situation. You should seek professional advice to determine which clauses should be included in your commercial contracts.
Hot tip:Don’t be told that boilerplate provisions are just standard clauses. All parts of a contract are negotiable, including boilerplate clauses. |
Review of sections 9.5 & 9.6
When dealing with a contract, which of these statements is True, and which is False? MarkT or F in the box.
1. A standard contract can be used in most situations
2. A contract should deal with the method of payment
3. A breach of contract must be dealt with by a court of law
4. The parties to a contract cannot limit their liability in the event of a claim for damages
5. A Force Majeure clause deals with non-payment for goods or services
6. Boilerplate provisions deal with the quality of a product or service
7. A contract dispute can only be settled by litigation
8. Ambiguity describes a word or statement that can have more than one meaning
9. Most contracts do not allow the parties to transfer their interests in the contract
10. An entire agreement clause deals with breach of contract
2. A contract should deal with the method of payment
3. A breach of contract must be dealt with by a court of law
4. The parties to a contract cannot limit their liability in the event of a claim for damages
5. A Force Majeure clause deals with non-payment for goods or services
6. Boilerplate provisions deal with the quality of a product or service
7. A contract dispute can only be settled by litigation
8. Ambiguity describes a word or statement that can have more than one meaning
9. Most contracts do not allow the parties to transfer their interests in the contract
10. An entire agreement clause deals with breach of contract
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