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To write effective and enforceable business contracts, you need to include a number of contract clauses. These include indemnification, force majeure, copyright, termination, warranties and disclaimers, and privacy.
These include indemnification, limit of liability, copyright, use restrictions, and more. Without these clauses, the parties may be exposed to unnecessary risks, since they may not have the legal rights to resolve certain issues if disputes arise.
The articles are numbered I, II and so on. The sections are numbered 1.01, 1.02 and so on. The subsections are lettered; for example, subsection 1.02(a), 1.02(b), 2.01(a) and so on. The clauses are in lowercase roman numerals; for example, clause 4.06(a)(i), 4.06(a)(ii), and so on.
The Obligation of Contracts Clause Generally speaking, this clause was added to the Constitution in order to prohibit states from interfering with private contracts. The clause states that, 'No State shall... pass any... Law impairing the Obligation of Contracts...'
What are different types of contract clauses? Sunset clause. Penalty clause. Exemption clause. Exclusion clause. Indemnity clause. Escalation clause. Exculpatory clause. Non-compete clause.