Vocabulary Words and Phrases for Contracts and Contracting Law Issues and Tips.

1. Module 2 Words and Phrases-PostBlog, Webpage:
1.One-SidedAgreements-Youcan get away with it because no one reads them.
Include a limitation of liability that states no matter how bad it is we owe you
nothing or very little.
2. A Real Contract-Two common ways websites attempt to form contracts is to
clickwrap and browsewrap.
3.Clickwrap is when you are forced to affirmatively click on a button that says
something like “I Accept” after you have been given the terms of the agreement.
4.Browsewrap is more problematic. Make the terms and conditions link
conspicuous and make it say.
5. Letters of intent can be binding agreements, so take them very seriously and
they need to be written by an attorney.
6. LOI are called by many names Memorandum of Understanding, Agreement of
Principle, and Term Sheet.
7. The Negotiation – things to consider: the developer is limited to the amount
paid by the customer to the developer pursuant to the agreement, reciprocity,
infringement of intellectual property, and finally property damage and bodily
injury.
8.Working With Requests For Proposals – RFP request for proposal is
essentially a request for potential vendors to make offers to provide a service or
product that matches your basic specifications and budget.
9.Have Ready-to-Go Documents-The reason to have these agreements ready to
go is when a deal is at this.
10. It’s the Norm – Limits of liability are the norm.