The rate of technological growth around the world is truly transformative, and shows no signs of slowing down. According to Moore’s law, computer processing speed will double every 18 months, which in turn will result in greater capabilities for associated technologies. No one knows if this exact rate of growth will hold true, but it’s undeniable that technology has increased and innovated at an exponential rate in recent times.Read More
For some, nothing sounds more tedious than drafting business contracts. If you don’t believe it, start discussing the importance of including a liquidated damages or force majeure clause in a commercial contract at your next cocktail party. Chances are, even your significant other will abandon you for other party-goers, provided he or she has managed to stay awake.
People sign contracts for lots of different reasons. Usually, the contract represents something positive for all of the parties involved. For example, a willing seller of a product or service finds a willing buyer who needs that product or service. The parties agree on a price, and everyone is happy.
While we have no idea how many contracts are created daily across the United States, the number would certainly be staggering. Truthfully, most of those contracts will lead dull, boring lives. They will be formed properly and their parties will honor them in good faith.Read More
While reading about the elements required to form an enforceable contract might appear a bit dry to some, the history of contract law has all sorts of entertaining and interesting stories. Many of today’s contract rules were developed over hundreds of years by judges in the cases they decided. And it is the facts of these cases that can be memorable. In this article, we’ll discuss a few of these historical contract cases which are often still studied by today’s law students.Read More
If you’ve signed many contracts in your life, chances are you’ve seen some real doozies. Some contracts can be dozens, or even hundreds, of pages long. Think about a lease agreement you signed, or all the documents you reviewed at the closing on a real estate purchase. Or maybe you’ve had the misfortune of being asked to read a business agreement chock full of definitions and awkward-sounding paragraphs filled with legalese. Or perhaps you deal with your company’s contracts on a daily basis and we’re preaching to the choir. At any rate, even lawyers, in the middle of reviewing a complicated contract, are sometimes forced to fight off sleep and boredom by grabbing another cup of coffee and starting over from the beginning.