Introduction to Commercial Contracts: Reviewing and Drafting Key Provisions and "Boilerplate" Terms

Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Commercial Law
- event Date
Tuesday, May 14, 2024
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE webinar will provide practical strategies for reviewing, drafting, and advising clients on commercial contracts. The panel will examine the meaning of common performance and boilerplate terms and how outside forces may dictate the way specific terms of the agreement are drafted, interpreted, and enforced.
Faculty

Ms. Marx applies her experience in the areas of complex business and commercial litigation to represent a variety of clients. Her practice includes the representation of corporations and individuals in corporate contractual and partnership disputes, customs, imports, and trade matters, real estate and leasing issues, and litigation related to leases and guaranties, bankruptcy adversary proceedings, commercial transactions and disputes, and issues of employment law and benefits. Ms. Marx handles contract disputes, commercial and private loan disputes, business liquidation priority issues, lease obligations, receivership appointments, real estate transactions, insurance claims, import-export contracts and litigation, and employment and labor disputes. Further, her experience in bankruptcy litigation includes years of representing both debtors and creditors in significant adversary disputes and work-outs, including clawback litigation both in Minnesota and other states.

Ms. Zentner is a transactional attorney who represents clients in general business, supply chain management, as well as tariff, customs, and trade matters. She regularly serves as outside general counsel for businesses, working closely with firm clients to gain an in-depth understanding of their business and business objectives. Ms. Zentner routinely provides focused, cost effective, client centered legal advice on issues confronting clients on a daily basis. This includes, but is not limited to, commercial contract negotiation and review, corporate governance matters, employment matters, intellectual property matters, and real estate transactions. Ms. Zentner provides comprehensive advice to manufacturing clients on the development, production, and distribution of their products and assists clients with matters such as manufacturing and supply agreements, distribution agreements, compliance issues involving government and regulatory agencies, warranties, sales contracts, pricing, intellectual property protection, and antitrust compliance.
Description
Unlike other legal documents, contracts are prospective, forward-looking documents that serve as a guide for future behavior, and they memorialize the parties' agreement in hopes of preventing future disputes. The goal when drafting contracts should be to draft every sentence with precision and to avoid any ambiguity.
Although the specifics vary from contract to contract and each contract presents a unique set of circumstances, all valid contracts follow some basic rules including, among other things, the parties' intent to form an agreement, a valid offer and acceptance, and an exchange of something of value. Also, every contract follows a basic structure that generally includes introductory provisions and definitions, operative provisions, contractual performance, remedies for breach, and other miscellaneous terms.
Before engaging in a contract review or drafting project, there are common challenges, pre-drafting considerations, and questions to ask the client that counsel should be aware of, and pre-planning and preparation are the keys to success.
Listen as our expert panel explains and defines basic contract concepts and provisions and provides key tips and best practices for reviewing, drafting, and structuring contracts.
Outline
- Overview: basics of a contract
- Different types of contracts
- Contract drafting strategies and style
- Pre-drafting matters to consider
- Common challenges affecting contracts and how to deal with them up front
- Other matters to consider
- Anatomy of a contract
- Introductory provisions
- Contract operative provisions
- Boilerplate terms
- Miscellaneous provisions
- Key takeaways and practical guidance
Benefits
The panel will address these and other relevant considerations:
- What are the elements of a contract?
- What are some pre-drafting matters to consider?
- What are common challenges that affect a contract and how should these matters be addressed in the terms of the agreement?
- What are some negotiation strategies for key provisions and boilerplate terms?
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