This allows them to have an advantage if litigation becomes inevitable.
5. Non-Competition Clause a/k/a Covenant Not to Compete Clause - Most companies will attempt to protect their intellectual capital from competitors by having employees sign a non-competition agreement or, alternatively, by including a non-competition clause as part of an employment contract. Such agreements restrict an employee from joining forces with a competitor or setting up his or her own competing business for some period of time within a particular territory (geographical or otherwise). These agreements have become so common in the technology sector that most people use them without much attention to their content. This is wrong, and a lot of companies come to pay dearly for such a careless approach. It is important t o note that not only do companies dealing with intellectual property use such an agreement. This clause is utilized any time a company wants to insure that their information is safe and secure and that an individual cannot use this information, technology etc. within another company or individually outside of the company.
Entire Agreement Clause - a majority of contracts contain an entire agreement clause. Also known as an integration clause or merger clause, an entire agreement clause declares that the contract represents the complete and final agreement, thereby protecting the contracting parties. In other words, the contract supersedes any prior agreements the contracting parties might have made in regards to the subject of the contract.
Force Majieure Clause a/k/a...
The inclusion of good title is an implied understanding in any sale of a motor vehicle or other property whose ownership is normally represented by title papers (Schmalleger, 2008). Voidable contracts are those that are enforceable under certain circumstances or only by certain parties. A typical example of a voidable contract is any formal agreement between an adult (or a professional business) and a minor. Ordinarily, a minor cannot be
Contract law exists to ensure that agreements between two or more parties are honored by every party. In this regard, contract law is based on the principle that agreements between two parties are legally enforceable since every part needs to honor his/her part of the deal. Despite the constant changes in contract laws because of the uniqueness of contractual situations, there are some basic elements that must exist for a
Contracts Law: Disney World Jurassic Park Amusement Ride The first question at issue in this study has to do with the termination of an employee for poor sales performance who entered into a non-compete agreement with the company, specifically that of Disney. The employee, Simpson agreed that he would not directly or indirectly compete with Disney as an agent, employer, broker, or contractor for one year from the date of termination.
Because promises are usually kept, it is usually reasonable to rely on a promise, and promises are usually relied upon. (p. 1) Despite its centrality to the human condition, the social practice of promising remains primitive and incomplete in comparison to other disciplines such as mathematics and linguistics (Mather, 1999). When it comes to the promises contained in contracts of any type, there are some general guidelines but these do
Some of the contracts which minors can't disaffirm include education loan contracts, insurance (health and life) contracts, armed forces enlistment contracts etc. Further, in some states, if a minor who seems (in terms of appearance) to be of majority age misrepresents his age at the time of entering into a contract with a competent party, such a minor is treated as an individual who has attained the majority age
However, it must be noted that the doctrine of consideration has changed and therefore seems to have fixed many of its most impractical elements, or at least that is what has been argued. One example of a change is the fact that in regards to consideration, the requirement for a benefit has moved from the requirement to show a legal benefit to simply a practical benefit. Another aspect to the
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