![]() My contract refers to Article 2 of the UCC. Is that enforceable? Usually yes, though there are exceptions. My contract says I have to go to arbitration rather than to court. How is a “prevailing party” defined in a contract dispute? That is an often debated term, and case law does not provide a clear answer in situations where both sides win on countervailing claims, or where the recovering party receives substantially less than requested. ![]() My contract says the “prevailing party” can recover attorney fees from the non-prevailing party in any dispute arising from the contract. For example, contracts for goods may have terms that are implied by previous dealings between the parties or implied by custom in the industry in question, and there may be implied warranties that the goods fit their purpose and are salable. Stated in legal terms, a promise does not constitute a contract without “consideration.”Ĭan contract terms be implied or do they need to be specifically stated as part of the agreement? In some instances, contract terms can be implied. To be a contract (a potentially enforceable agreement), each party must give up or promise something to the other. Is that promise enforceable? The answer usually hinges on whether you gave something in return for the promise. I didn’t receive something I was promised. Regardless whether a contract must be in writing, we encourage our clients to put all important agreements on paper or an electronic equivalent.
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