Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Common Clauses Found in Contracts
Author: Scarinci Hollenbeck, LLC
Date: February 28, 2014
Key Contacts
Back
Free Agency
With MLB free agency still underway and NFL free agency fast approaching, professional athletes across the country are signing contracts. To the average fan, this means that the person is receiving millions of dollars over a set period of time. But to the agent and player, a new contract is much more complicated, as there are numerous clauses that can be included, which should be looked over by a sports attorney before being agreed upon:
Common Clauses in Contracts:
– Choice of law and forum clause: With different state laws, contracts will often have this type of clause that says where it will be interpreted and that litigation will take place in a specific court. For example, a ball player who signs a deal in Phoenix, Arizona may have this clause that states litigation will be resolved in trial courts in the city.
– Time of performance clause: This type of clause specifically states that time frame in which the duties outlined by the contract can be performed. If duties aren’t complete during that time period, a breach of contract lawsuit can be filed.
– Merger clause: Some athletes sign new deals while still under contract with a team. This is where a merger clause can come in handy, which states that the current written agreement overrides and previous oral or written contracts.
– Arbitration clause: If both sides agreed to include this type of clause in a contract it means that any legal disagreements will be resolved by an arbitrator and not through litigation. Baseball players often solve contract disputes through arbitrators.
- Industries: Entertainment & Media
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Understanding Portability for Estate and Gift Tax
Portability of estate and gift tax enables a surviving spouse to inherit any unused portion of their deceased spouse’s federal estate and gift tax exemption. So, if one spouse doesn’t utilize their full exemption, the surviving spouse can effectively double their exemption amount with regard to estate tax liability. For married couples, portability offers a […]
Author: Marc J. Comer
Pet Trusts in New Jersey and New York: A Practical Estate Planning Tool
For many of us, pets are more than companions—they are members of the family. Yet they are often overlooked or inadequately provided for when it comes to estate planning. A pet trust offers a legally enforceable way to ensure that your animal continues to receive proper care if you become incapacitated or pass away. As […]
Author: Marc J. Comer
How Can Trusts Be Used in Business Succession?
For many New Jersey business owners, a closely held company represents decades of work, financial investment, and personal sacrifice. Trusts in business succession planning are one of the most effective tools for protecting that value, allowing founders to control how and when the business passes to the next generation while reducing the risk of disputes, […]
Author: George McGowan
Read Before You Sign: IT Contract Pitfalls Every NJ Business Should Know
In today’s digital economy, New Jersey businesses of all sizes rely heavily on technology vendors, software providers, cloud platforms, and managed IT services. Whether your company is purchasing software, migrating data to the cloud, engaging a cybersecurity consultant, or entering into a long-term managed services agreement, a careful IT contract review can have significant operational, […]
Author: George McGowan
New York NDA Requirements for Businesses
Non-disclosure agreements (NDAs) remain a critical tool for protecting sensitive business information. However, New York NDA requirements have evolved, and businesses must ensure these agreements are carefully drafted to remain enforceable. In a competitive market like New York City, NDAs are commonly used to protect proprietary information, client relationships, and strategic plans. At the same […]
Author: Dan Brecher
New Jersey Will Contest Grounds Explained
How Courts Evaluate Testamentary Capacity and Undue Influence Will contests in New Jersey are difficult to win, given the strong presumption that a properly executed will reflects the testator’s intent. However, challenges based on lack of testamentary capacity and undue influence remain common, particularly where there are concerns about mental capacity or the involvement of […]
Author: Marc J. Comer
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.