Contract ‘Term’ Raises Legal and Practical Issues
The term of a contract is one of the most basic questions with regard to any agreement, but drafting provisions regarding the “Term” raises multiple issues, both legal and practical, write Peter M. Watt-Morse and Cindy L. Dole in the Sourcing blog at Morgan, Lewis & Bockius LLP.
In their article, they review some important considerations to keep in mind when drafting this common contract provision.
They start by discussing the effective date, then the end date, and conclude with a section on length of the agreement.
The post is part of the firm’s recurring “Contract Corner” series, which provides analysis of specific contract provisions.
