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Under The Uniform Commercial Code An Agreement Modifyingt Quizlet

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Except for a sole proprietorship, enter your business entity's name and not a personal name as a party to the contract. Otherwise, Cohen adds, you will be personally on the hook and you have lost the limited liability that was likely one of your reasons for forming the entity in the first place. Never blur the distinction between you and the entity you own or represent.

Write a dispute clause to establish the handling of a dispute between the two parties. For example, arbitration is one method the parties can agree to in the case where a dispute arises between them. Establish ownership rights to the work. Even in service situations, a product is sometimes the result of the work, so you should also include which party retains ownership rights. For example, the copywriter can state that she turns over all rights to the writing of the brochure to the customer and that she makes no claims of ownership to the writing once the customer pays for the written product. Add signature and date lines. Be sure to provide a space for each party to sign and date.

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