Indemnification clauses are essential elements of business contracts that allow the parties to allocate responsibility for specific losses or claims. For Indiana businesses, understanding how indemnity works under Indiana law is vital for managing risks and reducing liability exposure. This article explores key indemnification terms and practical tips for analyzing…
In our last article, we explored key risk allocation clauses business attorneys use in contracts, including indemnification, liability caps, waiver of consequential damages, and termination provisions. These foundational concepts highlight the importance of clear drafting and strategic negotiation in managing contractual liabilities. This article delves deeper into advanced considerations, offering…
Effective risk allocation is essential in contract law, allowing parties to address potential liabilities and manage their exposure predictably. Business lawyers must draft risk allocation clauses carefully to ensure clarity, foster collaboration, and protect financial interests. This article explores the key types of risk allocation clauses found in business agreements…
The concept of the right of publicity, sometimes referred to as “name, image, and likeness” (NIL) rights, particularly as they apply to National Collegiate Athletic Association (NCAA) student-athletes, has gained significant attention in recent years, especially with the rise of social media and the increasing commercialization of personal brands. Indiana’s…
Update on Bill Actions: This bill was introduced on January 21 and on first reading was assigned to the Committee on Employment, Labor, and Pensions. The deadline for the House to pass the bill and send it to the Senate passed with no further action. Therefore, this bill will not…
We recently posted an article discussing Senate Bill 417, which revised Indiana’s statute on noncompete agreements between physicians and their employers, Indiana Code 25-22.5-5.5. A physician in northern Indiana may be the first to attempt to use the statute. The case is Lankford v. Lutheran Medical Group, filed in Allen…
A few months ago, we wrote an article about a bill in the Indiana General Assembly, Senate Bill 7, that would essentially ban noncompete agreements[1] between medical doctors and their employers. The General Assembly enacted the bill and Governor Holcomb signed it, but only after considerable revision. The ban was…
The Chicago Picasso in Daley Plaza, copyright 2023 Harshman Ponist Smith & Rayl Lawyers and others often say that “may” is permissive and “shall” is mandatory. By that, they mean that when a statute says a person “may” do something, that person has the discretion to do it or not,…
Update: Senate Bill 7 dealing with physician noncompete agreements was signed into law by the governor but in a form that differs significantly from the originally introduced version described in this article. Click here for a discussion of the final version of Senate Bill 7 that goes into effect on…
From a legal perspective, auctions are interesting transactions. Offer and acceptance in most sales Let’s start by discussing an ordinary contract for the sale of goods, one not created at auction. Law students learn in their first year that the formation of a contract requires, among other things, offer…