Legal Tweet Meet Show (4/19): Business Contract Terms You Should Know!

IT’S TIME FOR…Legal Tweet Meet! Every Thursday from 8-8:30 pm EST, provided by Kendrick Law Practice (https://www.kendricklaw.net) #legaltweetmeet

 

I am your host for tonight’s show and Founder of KLP, @Dar’shun Kendrick. Thank you for joining us tonight for #legaltweetmeet.

 

Who’s checking in this evening?! If you are, mention us at let us know your location in Georgia for tonight’s #legaltweetmeet show!

 

The Title of Today’s Show is “Introduction to Common Business Contract Terms”. #legaltweetmeet.

 

You will be able to ask questions AT THE END of the presentation so STAY TUNED! #legaltweetmeet

 

DISCLAIMER 1: KLP is only authorized to practice law in Georgia. Therefore, our advice is limited to the State of Georgia. #legaltweetmeet

 

DISCLAIMER 2: We only practice business law so we can’t help you with personal legal matters. Sorry L #legaltweetmeet

 

DISCLAIMER 3: These #legaltweetmeet Questions and Answers DO NOT create an attorney-client relationship.

 

PROCESS: Direct message a question and I will “tweet” the response without mentioning your name #legaltweetmeet

 

PROCESS:  OR Mention @kendricklaw and ask your question and I will RT then immediately answer. #legaltweetmeet

 

The hashtag for our Legal Tweet Meet is #legaltweetmeet.

 

Be sure to join us on other social media for advice to help keep you “IN business and OUT of Court”. #legaltweetmeet

 

You can join us on Facebook at www.facebook.com/kendricklawpractice. #legaltweetmeet

 

You can join us on Twitter @kendricklaw (obviously). #legaltweetmeet

 

You can join us on LinkedIn at www.linkedin.com/in/darshunkendrick. #legaltweetmeet

 

You can participate in my weekly blog discussions at www.kendricklaw.wordpress.com. #legaltweetmeet

 

We are now on google plus! Join our circle at http://gplus.to/KendrickLawPractice. #legaltweetmeet

 

You can also listen to our monthly online radio show at www.blogtalkradio.com/kendricklawpractice so join us! #legaltweetmeet

 

Are you ready to learn some information to help keep you “IN business and OUT of Court”? Here we go! #legaltweetmeet

 

The Show

Contracts! Contracts! Contracts! Nothing should excite business owners more or make them more fearful. #legaltweetmeet

 

What does it mean to have a “contract”? A contract is a LEGAL term which has LEGAL meaning. #legaltweetmeet

 

Without getting too “legal”, a contract is an understanding between parties that creates a LEGALLY enforceable agreement. #legaltweemeet

 

The important word there is LEGAL. The law does not enforce contracts between drug dealers or prostitutes. Not contracts. #legaltweetmeet

 

First, there must be a MUTUAL understanding between the parties. If everyone doesn’t agree, there is NO agreement. #legaltweetmeet

 

Second, most contracts DO NOT have to be in writing. However, is it a VERY smart idea however? Of course! #legaltweetmeet

 

No use in making more costs, time and money for yourself by NOT having an agreement. Make it easy for the Court to decide. #legaltweetmeet

 

There are only 6 types of contracts that have to be in writing and your lawyer should know what those are. #legaltweetmeet

 

Contracts in Georgia are construed AGAINST the drafter. #legaltweetmeet

 

That means, if you DRAFT a contract, the Court will assume you knew what you were doing. #legaltweetmeet

 

Over the next few months, I will be breaking down specific common business contract terms. #legaltweetmeet

 

At Kendrick Law Practice, it is our MISSION to make sure you are an educated business owner even if you have an attorney. #legaltweetmeet

 

The top (10) common business contract terms we will explore: (1) Arbitration Clauses, (2) “Time is of the Essence” language #legaltweetmeet

 

(3) Indemnification Clauses, (4) Merger/Integration Clauses, (5) Subrogation Clauses, (6) Warranties & Representations #legaltweetmeet

 

(7) Covenants not to compete/Non-compete clauses, (8) Liquidated Damages, (9) Forum Selection Clauses #legaltweetmeet

 

And (10) Guarantor/Surety Clauses. By the time we are done, you will be SUPER educated in the area of business contracts. #legaltweetmeet

 

However, don’t think for ONE SECOND these discussions are a replacement for hiring a business attorney. #legaltweetmeet

 

Attorneys spend 3 years in school. There are a LOT more provisions and nuisances than what we will discuss. #legaltweetmeet

 

Furthermore, the Uniform Commercial Code is a TRAP for any business owner that doesn’t practice law on a daily basis. #legaltweetmeet

 

If there are other provisions you would like me to try and explore in addition to those named, let me know. #legaltweetmeet

 

PRE-ENDING

DISCUSSION QUESTION: Can I clarify or explain more about a specific businese entity? #legaltweetmeet

ALRIGHT! Now it’s time for the 2nd half of #legaltweetmeet that is an OPEN FORUM to ask me any questions. #legaltweetmeet

 

Remember you can mention @kendricklaw or DM us for answers to your questions. #legaltweetmeet

 

Match your question number (Ex. Q5) to my answer number (Ex. A5). #legaltweetmeet

 

READY…SET….GO! How can KLP help you make or save money through competent legal and business advice and counseling? #legaltweetmeet

 

END

 

THANK YOU ALL for attending KLP’s Legal Tweet Meets. Join us next week and BRING A FRIEND for our  #legaltweetmeet Thursday from 8-8:30 pm.

 

NEXT SHOW: April 26th with special guest <<>> speaking about <<>>> #legaltweetmeet

 

JOIN US on Facebook- www.facebook.com/kendricklawpractice, BlogTalkRadio-www.blogtalkradio.com/kendricklawpractice #legaltweetmeet

 

JOIN US on LinkedIn- http://www.linkedin.com/in/darshunkendrick and our weekly blog- http://www.kendricklaw.wordpress.com #legaltweetmeet

 

Need a POWERFUL 30 minute business consultation, including legal advice?  Visit http://www.kendricklaw.net/consultations #legaltweetmeet

 

We also offer MONTHLY legal plans to support your business. Visit http://www.kendricklaw.net/partnerships for more information! #legaltweetmeet

 

SIGN UP for our monthly enewsletter filled with company news, special promotions, business legal tips and articles at www.kendricklaw.net! #legaltweetmeet

 

KLP is here to keep you “IN business and OUT of Court” so visit us at https://www.kendricklaw.net for how! Good Night Everyone! #legaltweetmeet


 

Advertisements

Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s