Managing Contract Issues in Business at Home and Abroad

Managing Contract Issues in Business at Home and Abroad

Name:

Institution:

Managing Contract Issues in Business at Home and Abroad

Waiver of Right to Jury Trial

The Waver to Right to Jury Trial can be considered a risky issue in terms of contracts between a buyer and seller. It reiterates that the seller and buyer should waiver their rights to the point that is permissible by law and agree on not choosing to go to trial in instances where issues arise from sale agreement or purchase transactions (Singh, 2010). The Statute permits this waiver with the inclusion of a pre-litigation contractual trial conducted by the jury. The risky aspect is observed when the right to a jury trial, which is contractual, is forfeited. This is action is generally prohibited regardless of the severity of the issues that has arisen between the buyer and seller. An instance that indicates the gravity of this law is between Grafton Partners v. Superior Court whereby the California Constitution prohibited the wavering of the right to trial through a nonstatutory authority (Singh, 2010). The only exceptions that are observed in this contract clause are the agreement to arbitrate and judicial reference.

Selection of Remedies Clause

Within the contract, the involved parties are limited in selecting the certain remedies that are valid for resolving issues that arise. The first clause mentions that both parties are allowed to waiver the advantage of any contractual laws fore their won benefits. However, the statutes that can be wavered are restricted to statutes of limitation (Singh, 2010). It is important to consider that the court is not in any position to impose any of these remedies on the involved parties as a way of resolving their conflict in agreement

Third Party Provision

The importance of reviewing this clause is to ensure that there are no their party persons or entities that will benefit from the clause and agreement between the buyer and the seller (Singh, 2010). It states that the clause does not include the conferring of any rights to persons or entities that are not included in the signing of the agreement between the involved parties as a form of agreement. The risky nature of this contract is that courts have the right to evaluate the case and determine whether the included person can be considered as a third party beneficiary. With this in mind, one should also contemplate on the future amendments that might be considered such as contracting of subcontractors, which can be categorized as third party elements.

References

Singh, A. (2010). Business and contract law. London: Thorogood.