Today’s Contract Caution: Dark Secret-Beware of who pays for Attorney’s Fees and Courts Costs in contracts. This clause is often weaponized by attorneys to beat the opposing party into submission because attorney’s fees often EXCEED the actual damages claimed by the party suing you. IF you believe you may be a defendant in a contract it is best just to scratch through this clause in a contract.
Category: Contracts
Today’s Contract Caution: Indemnification
Today’s Contract Caution: Indemnification – essentially means you 
will pay the damages and cover the costs (attorney’s fees plus) of someone else’s lawsuit. They are shifting as much liability to you as they can. It is good to have an indemnification clause in your favor and bad if it is against you and perhaps ok if it is mutual. Our Mission-Add Real Meaning & Value to You. Remember, the Serpent is often in the details we don’t want to deal with.
Signing Contracts for LLCs
How to sign a contract for a Limited Liability Company in Alabama:
When entering into an agreement for the LLC (your company) you should sign as follows:
(signature) John Doe, President of
Widget Enterprises, LLC
Signing as shown above is intended to limit your personal liability in contracts to the LLC. This only works though, if you make sure the contract states in the initial recital that this agreement is between: Other Person/Company and Your Company, LLC, but NOT YOU PERSONALLY. Once again, make sure the agreement does NOT add your personal name in the contract or the initial recital of the contract.
Lease-Term and Commencement
When Reviewing a Lease Seriously Consider the Term and Commencement Clause and any Outs You May Need.
For Example we once provided the below counsel to an LLC Client
Term and Commencement
[In consideration that most business struggle their first five years and that conditions change rapidly during that time it seems unreasonable to us to commit to a ten (10) year lease as a matter of business not law.]
