Performing a Litigation Audit on Your Lease Agreements: How Will Boilerplate Provisions Affect the Outcome If There’s a Dispute?September 8, 2009 – Articles LJN Equipment Leasing Newsletter, Vol. 28, No. 8
Both standard forms and specially negotiated agreements contain boilerplate provisions that are largely ignored at the time of a transaction but play a prominent role when a dispute arises. While leasing counsel may review the boilerplate provisions when negotiating agreements, he or she likely does not possess the litigation background and knowledge of current case law to determine the best revisions that may be required relative to the particular transaction or company or how such revisions would play out in the event of litigation.
Michael Eidel's article discusses the applicable general principles and drafting considerations for some of the most frequently litigated boilerplate provisions: choice-of-law, forum selection, venue, jury trial waiver and attorney's fees.