There are concepts that you need to know and are important no matter what type of contract you find yourself signing. What are these concepts and how do they impact your contract? In this movie, author Seth Polanksy explains what Choice of Law is and how that impacts the contract you could be signing.
- In this section, we'll discuss those concepts…that are important no matter the type of contract.…Let's start with choice of law.…A choice of law, or governing law provision in the contract,…allows the parties to agree at a particular jurisdiction,…which could be a state, locality, or even a country…that those laws will be used to interpret the agreement.…Even if those parties live in,…or the agreement is signed in another jurisdiction.…For example, many corporations choose Delaware law…in their contract's choice of law provisions…because that state's laws often favor corporations…and offer some predictability…when it comes to disputes in litigation.…
Here's why this matters so much.…Bob bought a ticket for an Alaskan cruise.…On the ticket, there was a form selection clause…that required all problems to be handled in Florida.…Bob lives in California.…He was hurt on the cruise and wanted to sue;…however, his medical bills were $5,000.…The cost of travel and housing in Florida during the suit,…not even including court fees, was likely more than $10,000.…
Disclaimer: This course is taught by an attorney and addresses US law concepts that may not apply in all countries. Neither LinkedIn (including Lynda.com) nor the instructor represents you and they are not giving legal advice. The information conveyed through this course is akin to a college or law school course; it is not intended to give legal advice, but instead to communicate information to help viewers understand the basics of the topic presented. The views (and legal interpretations) presented in this course do not necessarily represent the views of LinkedIn or Lynda.com.
- Why do you need a contract?
- Types of contracts
- Asking for an NDA
- Work-for-hire and contractor agreements
- Proposals, quotes, and statements of work
- Licensing agreements
- Delivery and payment terms