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Join Kevin Hunter and Jeffrey O'Brien as they discuss boilerplate terms including "Choice of Law" and "Modification of Agreement."
A "choice of law" or "governing law" provision in a contract allows the parties to agree that a particular state's laws will be used to interpret the agreement, even if they live in (or the agreement is signed in) a different state. For example, many big coorporations choose Delaware law in their contracts' choice of law provisions, because that state's laws often favor corporations and offer some predictability when it comes to disputes. Read on to learn more about choice of law provisions in contracts.
The "modification of agreement" clause in a contract states that the agreement may only be modified in writing. As important as it is to have your contract in writing, it is equally important to require any modifications — additions, deletions, or changes in wording — to be in writing. You don't want a conversation or telephone call that you had with the other side to modify your written contract.
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