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Common Clauses Found in Contracts
Author: Scarinci Hollenbeck, LLC
Date: February 28, 2014
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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
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