Drafting and Enforcing Termination Clauses in Commercial Contracts
Maximizing Recovery or Minimizing Loss When Contracts End Due to Breach, Insolvency, Milestone Failure, Expiration or Other Reason
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide guidance to business counsel on drafting and enforcing the termination provision in commercial contracts. The panel will discuss common termination triggers, including material breach of contract, insolvency, milestone failure, contract expiration or convenience; strategies to maximize recovery rights or minimize losses when a contract is terminated; and limitations and enforcement challenges with the termination clause.
- Drafting termination provisions that anticipate and address:
- Material breach of contract
- Failure to reach a contractual milestone
- Contract expiration
- Navigating the termination process
- Notice of termination
- Opportunity to cure default
- Contractual provisions, rights and obligations that survive termination
- Duties and obligations of parties that arise from termination
- Post-termination remedies—limitations and enforcement challenges
The panel will review these and other key issues:
- What are the most common reasons commercial contracts are terminated?
- What best practices should counsel to contracting parties follow when drafting the termination provision?
- What legal and practical challenges do counsel face when seeking to enforce or prevent enforcement of the termination provision—and how can they overcome them?
- What rights and obligations survive the termination of a commercial contract? What obligations arise when a termination occurs?
Rebekah R. Conroy
Brown Moskowitz & Kallen
Ms. Conroy's practice is centered on complex business litigation, including products liability, RICO, contract and... | Read More
Ms. Conroy's practice is centered on complex business litigation, including products liability, RICO, contract and franchise disputes, as well as the representation of attorneys in ethics proceedings. She advises business owners how to effectively minimize risks and how best to approach and prevail in litigation.Close
Murray Hogue & Lannis
Mr. Murray represents numerous businesses and individuals in all manner of contract transactional matters and... | Read More
Mr. Murray represents numerous businesses and individuals in all manner of contract transactional matters and disputes. He co-authors with Dr. John E. Murray, Jr., the biannual supplements to the landmark contract law treatise Corbin on Contracts. He and Dr. Murray have collaborated on the book for contract law practitioners published by PBI Press, Contract Law for the 21st Century Lawyer: Critical Analysis and Practical Application. He is updating numerous chapters in Lexis' landmark formbook series, Rabkin & Johnson Current Legal Forms.Close