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Generally, you should limit your comments to matters that could cause confusion, could add risk, or don't reflect your understanding of the deal. Don't make changes to make the language conform to what you think contract language should look like.

Examples of such clauses can be the goods or services to be provided; details about what, when, how, and under circumstances the party providing those things will be paid; who owns the rights to the goods or services; what happens if there is a breach of the contract or a dispute; the term or length of the contract; ...

Below are things you should look out for while reviewing a contract: Terms and Conditions. ... Strive For Clear Language. ... Termination and Renewal Terms. ... Check Blank Spaces. ... Note Significant Dates And Deadlines. ... Default Terms. ... Allocating Risks Equally. ... Understand Remedies Provision.

The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, elements of consideration can be satisfied by a valid substitute.

The contract should include the names of the parties involved, the date the contract will go into effect, and a description of the goods or services to be exchanged. The provisions of a contract should be written in specific language, and the terms should all be well defined.

Contract review checklist Focus on the most critical clauses. ... Strive for clear language. ... Review default terms. ... Check for blanks. ... Read termination and renewal provisions. ... Note significant milestones. ... Allocate risk fairly. ... Understand the remedies provisions.

For a contract to be valid and recognized by the common law, it must include certain elements? offer, acceptance, consideration, intention to create legal relations, authority and capacity, and certainty.