Description
Gain an understanding of important drafting considerations when including evergreen clauses in your contracts.
An important provision in contracts that contemplate ongoing performance by one or both parties is the contract term. In many cases the term provision is given short shrift or even ignored altogether, leaving the parties unclear how long performance is to continue and when, if ever, the contract may be terminated. In other cases, without much consideration, parties agree to autorenewal or evergreen clauses that automatically extend the contract term absent some action by one of the parties to prevent the renewal. This material considers the fundamentals of drafting evergreen clauses in contracts. You will obtain an understanding of the legal principles applicable to the term of a contract, including contracts with definite terms, indefinite terms, and contracts with evergreen clauses. You will also receive an overview of important drafting considerations when including evergreen clauses and how to ensure that your contract is clear and enforceable. Certain state law considerations, relating to the application of such clauses in the context of business, consumer and other types of contracting are addressed.
Date: 2021-06-29 Start Time: End Time:
Learning Objectives