What are the key terms I should look for in a contract?
An example of an AI chatbot conversation about understanding contract terms.
What are the key terms I should look for in a contract?
Key terms to look for include the parties involved, payment terms, duration, termination clauses, and dispute resolution.
Can you explain what a termination clause is?
A termination clause outlines the conditions under which either party can end the contract before its completion.
What does 'indemnification' mean in a contract?
Indemnification is a provision that requires one party to compensate the other for certain damages or losses.
Are there any terms that are commonly overlooked?
Yes, terms like confidentiality, liability limitations, and governing law are often overlooked but very important.
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