Category Archives: Contracts

Entrepreneur Guide: The Parties (Contract Series)

After the two previous discussions on the basic elements and the title of a contract, this is the third installment of the “Contract Series.” This series is a step-by-step discussion of the basic elements and standard provisions of a contract, which is a basic business tool. It is, of course, safe to assume that Pinoy Entrepreneurs are familiar with the nuts and bolts of contracts, but a short discussion certainly won’t hurt. Continue reading

Entrepreneur Guide: Basic Elements of a Contract

If a contract brings you to court, it’s a poorly-prepared contract. The rationale for this statement is this – if the rights and obligations of the parties are clearly provided and defined, there’s a lesser chance of misinterpretation. This, of course, is not necessarily true. Even a carefully drafted contract, prepared by the big law firms, may still end up in court if the parties do not comply in good faith with their respective obligations. Still, it would be better to know the basic elements of a contract. Continue reading