What is this document?

This is one of clausehound.coms legal templates. Feel free to scroll through the contract and determine whether the template is useful for your needs. You can login and browse our learning materials for free.

When would I use this document?

When engaging in a business relationship, written executed documents are preferable to verbal agreements. Both parties to an agreement should read the agreement in its entirety and should have the agreement reviewed by a lawyer before signing it.

Who Signs this Agreement?

Agreements are typically signed by the ‘parties’ – individuals, partnerships or corporations who will be bound by the agreement. The agreement will give the parties both benefits and obligations. Whoever is intended to be bound by the agreement should sign to provide evidence that the deal terms have been accepted. When corporations sign an agreement, the agreement should be signed by an individual who has signing authority on behalf of the corporation. Signing is also called ‘executing’ the agreement.

More details about this document

When using a template document on clausehound.com you may wish to look at other Clausehound documents to consider whether they might also be useful in your circumstances. Examples of this include NDA’s with Employment Agreements, Term Sheets with Asset or Share Purchase Agreements, By-laws with incorporation documents etc. Feel free to explore other agreements on clausehound.com.

What are the core elements of this document?

The core elements are the clauses that are unique or essential to your deal, such as ‘Salary’ or ‘Wages’ in an employment agreement. In contrast, ‘boilerplate’ clauses appear in most agreements, because they are important for most agreements, and include clauses such as Termination, Governing Law, Jurisdiction, Inurement, Entire Agreement etc. Explore the agreement to uncover the boilerplate, obligations, covenants, representations and other key provisions.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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