Commercial Contracts

The term commercial law describes a wide body of laws that govern business transactions. The primary authority that governs commercial transactions is the Uniform Commercial Code (UCC). By definition, commercial contracts represent a combination of commercial and legal factors. For businesses and organizations, the key requirement is to ensure that the legal arrangements allow the full commercial benefits to be realized. This is FindLaw’s collection of Commercial Contracts articles, part of the Business Operations section of the Corporate Counsel Center. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.

Business Operations

Commercial Contracts Articles

Getting Ready for ISP98: The New International Standby Practices

The International Standby Practices (ISP98) has been carefully crafted for use with standby letters of credit. ISP98 is expected to become widely used for standby letters of credit commencing January 1, 1999. This paper, which is adapted from a ...
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Guaranties: How Certain is Your Security?

Some of our small ticket clients have said that the rule, rather than the exception, in their practice was to obtain personal guaranties in all transactions. There is certainly nothing wrong with this; PG's are the engine which drive many ...
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Guarantor Rights in Surprising Places

It is worth remembering that a "guarantor" includes someone who grants a lien on his or her property to secure the principal's debt even if the granting party is not personally liable for payment of the obligation. The plaintiff in Mead v. Sanwa ...
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H-1Bs at a Glance

Temporary: H-1Bs are temporary foreign professionals hired by a U.S. employer. Highly skilled: H-1Bs can be hired only for "specialty occupations," those jobs requiring the equivalent of at least a bachelor's degree in the field ...
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Health Industry Alert: March 3, 2000

Physicians sometimes lease office space to other suppliers of health care items or services to whom the physicians refer patients. In light of a Special Fraud Alert issued by the Office of Inspector General (OIG) on February 23, 2000, caution ...
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Hidden Safety Hazards: And How to Protect Yourself Against Them

Car Repairs Lemon Law Odometer Rollback Automobile repair problems consistently rank No. 1 among all consumer complaints. Each year thousands of complaints are logged. The majority of them involve overcharging, poor workmanship and deceptive ...
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Home Equity Loans: The Three-Day Cancellation Rule

If you're considering applying for a personal loan and using your home to guarantee repayment, you should know that a federal credit law gives you three days to reconsider a signed credit agreement and cancel the deal without penalty. Your "right to ...
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Home Repair And Remodeling

We frequently hear stories of homeowners who have paid excessive amounts for home repairs or remodeling, or who have paid for work and then have had the contractor fail to complete the job. The Illinois General Assembly recently enacted the "Home ...
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Hospital Payor Must Honor Reimbursement Agreement

In 1991, Meadowlands Hospital entered into a contract with U.S. Healthcare. Under the contract, the hospital agreed to provide inpatient services to U.S. Healthcare's employees at fixed per diem rates and, in the case of maternity care, fixed case ...
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How Could ‘Tort Reform’ Affect You or a Loved One?

In 1992, a 43 year-old woman was running errands on her birthday when a garbage truck drove from an alley to the street without stopping. In the blink of an eye, a hitch-lift arm on the truck (used for snow plowing) broke through her car windshield ...
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