An arbitration clause is a contract provision that requires disputes be decided by 1 private arbitrator (or panel) instead of a court. It typically limits...
A non-compete agreement is a contract that restricts an employee from working for a competitor or starting a competing business for a set time after...
Rescission is a legal remedy that cancels a contract and restores both parties to their pre-contract positions, treating the agreement as if it never existed....
Contract reformation is an equitable remedy where a court changes a written contract to match the parties’ actual agreement when the text is wrong due...
An indemnification clause is a contract term where one party agrees to reimburse the other for specified losses, often including damages and attorney’s fees. It...
Anticipatory breach (anticipatory repudiation) happens when one party clearly indicates before the due date that they will not perform the contract. This lets the non-breaching...
A material breach is a substantial failure to perform a contract term that defeats the contract’s main purpose. It typically excuses the non-breaching party from...
Specific performance is an equitable court order that requires a breaching party to perform the exact contract promise instead of paying damages. Courts typically grant...
Acceptance is the unconditional agreement to an offer’s terms that turns it into a binding contract between two parties. It must match the offer, be...
Consideration is the bargained-for exchange of something of legal value between the parties, and it’s required for most enforceable contracts. It can be money, services,...
Mutual assent is the agreement of both parties to the same contract terms through a valid offer and acceptance. Courts look for objective evidence—words, conduct,...
A breach of contract occurs when one party fails to perform a promised duty under a valid agreement, including written or oral contracts. The non-breaching...
