|· Name and details of the parties||· Name of the seller|
|· Duration of the contract||· Terms by the seller|
|· Preamble||· Obligations of the buyer|
|· Conditions of the parties||· Rescission rights of the seller|
|· Price of subject matter||· Sellers rights to reclaim the subject|
|· Payment terms||· Exclusion clauses|
|· Delivery and Transfer||· Payment clause|
|· Amendment||· Privity rights of the contract|
|· Assignment and Third Party Rights||· Freedom of the contract|
|· Notices||· Mediation or Negotiation|
|· Law and Jurisdiction||· Termination clause|
|· Force Majeure||· Parties signature|
|· Dispute Resolution Clause- Arbitration|
|· Signature of parties|
The parts of the small contract that do not show in the big contracts include: exclusion clauses, privity of the contract, negotiations and mediation as a form of dispute resolution and the termination clause.
There are some parts in the ….that I believe to be better written than in the …… First is the clause that upholds the rule of privity in contracts. This clause exempts third parties from being part of the contract and thus any dealings by a party that involve a third party creates liability to the particular party.
As a licensor (seller in this case), I would rather sign the ….. This is because it will ease the burden of liability on my side. The exclusion clause for instance will shift liability to the purchaser should he wilfully take the risk that comes with signing the contract. The rights to rescind the
If my lawyer presented to me, as the licensor, the small contract to use to license my technology, I would make the following five changes:
First, I would remove the privity clause so that third parties are included in the contract. This is just so to ensure agents of the parties can undertake obligations on behalf of the parties. Secondly, I would include
The is unfair in that its clauses favor the licensor and do not take into account the rights of the licensee. On the other side, the is conclusive and just as it treats both parties fairly.