The Common Contract Clauses

Junior (College 3rd year) ・Law ・APA ・2 Sources

The speaker in this video stresses the value of including standard terms in every contract. These common clauses exist because prior decisions have established that they are necessary components of a contract. Among other provisions mentioned by the speaker are signatures, notice, alterations, additions, and changes, dispute resolution, timing, indemnity, legal force, severability, and applicable law, jurisdiction, and venue (HBAberks, 2012). The provision relating to controlling law, jurisdiction, and venue is particularly pertinent.

The speaker in this YouTube video explains that this common provision gives important information regarding where to turn if there is a legal dispute. This section highlights, the law that governs the agreement is based on a particular jurisdiction, for instance, a U.S. state (HBAberks, 2012). Additionally, the venue describes the area or location of preference for the settlement of the legal issue. This provision is applicable especially to instances where the contract involves cross-border dealings as well as ensuring proximal convenience and adherence to the law of the state as agreed by the parties in the contract.

As such, this standard clause comes with the advantage of reducing the legal costs incurred when paying for attorney travels and it also ensures that the parties in dispute quickly access the venue of hearing. Likewise, the governing law part is an opportunity for the two sides to be liable for policies that are favorable and understood hence limiting chances of disagreement and conflict. On the other hand, this clause has equally significant cons including the fact that the venue may favor one party especially if both do not reside within the same state or country. Secondly, when there is inequality in bargaining power, the big companies or more influential individual is likely to select the most beneficial governing law and jurisdiction (Wilson, 2014). Nevertheless, the governing law, jurisdiction and venue clause is crucial for defining the terms and regulations that apply to the contract while at the same time creating a platform for equal access and liability to the law.


HBAberks. (2012, Juy 19). Common Contract Clauses. Retrieved from

Wilson, T. (2014, July 3). Beware of forum and governing law clauses in commercial contracts. Retrieved from The Globe and Mail:

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