Regardless of whether the contract is simple or complex, there are a few standard peices most contracts contain:
- Identification of the parties, including the name and potentially address of the party.
- Recitations. Stating factual provisions or the purpose of the contract. These recitations are non-binding on the parties.
- Definitions. These provide a way to interpret contract terms.
- Substantive clauses. These could include:
- Term and termination of the contract
- Party relationships
- Representations and warranties
- Pricing
- Remedies
- General Provisions. These are also known as miscellaneous provisions and could include:
- Merger clauses. A merger clause states that the contract is the entire agreement between the parties.
- Severability. If a provision is improper, then the remainder of the contract can remain in force.
- Choice of law and forum.
- Signatures
- Any Schedules or Exhibits
Disclaimer
The content contained in this article may contain inaccuracies and is not intended to reflect the opinions, views, beliefs, or practices of any academic professor or publication. Instead, this content is a reflection on the author’s understanding of the law and legal practices.
