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Writing Contracts - Coggle Diagram
Writing Contracts
Structure of contract
Title
bold or CAPITAL letters, at top of the page
Introduction of Parties and Purpose
name the parties and describe the nature of the contract.
Definitions of Material Terms
define the material terms of the transaction: goods, services, quantity, quality, price, etc.
Covenants and Promises of Performance
a formal promise to perform.
Conditions
things that must occur before performance is due.
Breach and Its Consequences
a substantial breach of contract that excuses aggrieved parties from further performance and affords them the right to sue for damages.
Representations and Warranties
statements of fact made to induce someone to enter into a contract.
a contract are express promises that guarantee something in furtherance of the contract by one of the parties.
Standard Provisions
Procedure to Modify Contract
Rights of Assignment and Delegation
Alternative Dispute Resolution
Choice of Law and Forum
Integration
Severability
Exculpatory Clause
Force Majeure
Attorney Fees
Signature Block