Dispute Resolution Clauses
A Practice Note discussing the key features and strategic implications of common dispute resolution clauses found in commercial contracts. This Note highlights how these provisions standardize the process for resolving disputes and can create conditions precedent to filing a lawsuit. It explains that non-compliance may bar a valid claim or waive important rights, including the right to a jury trial. The Note provides an overview of various critical clauses, such as those governing arbitration and mediation, choice of law, and forum selection. It also examines the enforceability and scope of provisions concerning jury trial waivers, prevailing party attorneys' fees, indemnification for third-party claims, contractually modified statutes of limitations, and liquidated damages.
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