Terms to Know: Time is of the Essence
Often, contracts contain deadlines for performance – delivery, payment, closing, etc. What happens when the time for performance comes...
Terms to Know: Force Majeure
“Force majeure” is French for superior power. Why, then, is this phrase included in most American contracts? A typical force majeure...
Terms to Know: Indemnity
An indemnity clause is often one of those “boilerplate” clauses that make a business owner’s eyes glaze over. This is a contractual...