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Negotiating, Drafting, and Enforcing Remedies in Commercial Contracts

Gain a better understanding of commercial contract breaches and remedies.Business executives often enter into commercial contracts with optimism, happy to have negotiated an agreement for a new project and excited about getting started. Unfortunately, that optimism often leads businesspeople to fail to prepare for what might happen should the work not go as planned. Indeed, many times businesses enter into contracts without paying due attention to provisions regarding potential damages and remedial measures. The reality is that every contract involves risk, and it is critical for a businessperson to understand the contractual tools available to help mitigate against risk and learn how to use them. This topic helps businesspeople, and those who advise them, learn how to plan for 'when things go wrong' with a commercial contract. The material explains how risk can be mitigated using contractual provisions, and helps businesspeople understand the nature of contractual remedies, the types of damages commonly arising from commercial contracts, key contractual provisions which can limit recovery of damages and different methods for enforcement of remedies. Failing to effectively plan for contractual remedies is a common error that can lead to huge losses, and this topic will provide businesspeople will crucial information to help them avoid making that common mistake.
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction--How to Plan for "When Things Go Wrong"
Negotiation Considerations
  • Know Your Industry
  • Know Your Bargaining Strength
  • Know What Is Important to You
Key Drafting Elements
  • Importance of Clarity
  • Using Jargon Judiciously
  • Use of "Standard" and/or Commercially-Available Contract Documents
  • How Do You Know Whether Your Contract Has Been Breached?
  • Examples
Damages
  • Types of Damages-Consequential, Incidental, Liquidated, Damages for Delay and More
  • Limiting Damages Through Contractual Provisions
  • Attorneys' Fees Provisions
  • Statutory and Other Extra-Contractual Damages
  • Sample Provisions
Termination
  • Ending a Contract Prior to Full Performance
  • Termination for Convenience
  • Termination for Cause
  • Consequences
  • Sample Termination Provisions
Indemnity, Insurance and Bonds
  • Indemnity Clauses
  • Insurance Considerations
  • Bonds
  • Samples
Enforcement
  • Enforcement Considerations-Understanding Your Options
  • Dispute Resolution Methods/Models; Venue, Choice of Law
  • Judgments
  • Examples
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mohammad A. Ghiasuddin, Esq.

Mohammad A. Ghiasuddin, Esq.

Margolis Edelstein

  • Partner at Margolis Edelstein, concentrating his practice in the areas of commercial litigation, construction litigation and professional liability
  • Seasoned attorney with some 18 years of experience representing businesses, with a strong focus in matters relating to construction projects
  • Practice includes the representation of property developers, builders, contractors, manufacturers and suppliers, as well as engineers, architects and other design professionals
  • Extensive experience in commercial disputes including claims for breach of contract, breach of noncompetition agreements, business torts, claims for defective workmanship, payment claims, mechanics’ lien claims, claims for delays, surety bond claims, indemnity issues and insurance coverage matters
  • Handles claims involving alleged defective construction, design defects and related professional liability issues
  • Both a skilled commercial litigator and an advisor to his clients, assisting them in reviewing and negotiating contracts and providing risk management advice
  • J.D. degree, The George Washington University Law School; LL.M. degree, Temple University - James E. Beasley School of Law; B.A. degree, Penn State University
  • Can be contacted at 215-931-5802, mghiasuddin@margolisedelstein.com or https://www.linkedin.com/in/mohammad-ghiasuddin-6703495/
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Why Lorman?

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Product ID: 400199
Published 2017
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