Venice, CA – Legal document provider RealDealDocs.com released a free contract clause library to the general public today.

Contract clauses provide “teeth” to a legal agreement by spelling out the terms of the agreement such as the governing law, payment, etc. along with specific provisions regarding payment, termination and anything else that may be important to the deal.

For example, the Employment Clause section of the library contains all of the contract provisions you would need for an employment agreement such as confidentiality clauses, termination clauses, Indemnification clauses and many others.

The library also features numerous other popular categories such as severance clauses, supply clauses and many more.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality — which is easy to use — is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law.

Along with unlimited Free access to the Contract Clause Library, visitors can also search the extensive RealDealDocs.com legal contract database absolutely free. Members of the site may also download, copy, edit and print unlimited contracts and agreements in their entirety for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and be sure to visit the Free Contract Clause Library.

Popularity: 7% [?]

Regarding non-solicitation agreements made between an employer and employee, there have been many cases that address their enforceability. Cases addressing this issue have been litigated in both federal and state court. The issue usually boils down to whether the court believes that the non-solicitation agreement unduly restricts the former employee’s right to “make a living” and fairly compete with the former employer. It is essentially a balancing act between the limitation that the clause places on the former employee to earn a livelihood versus the employer’s legitimate right to protect its trade secrets and restrict its former employees’ from interfering with its clients or current employees.

The issue is not one without real world consequences. Many times if an employee leaves a company, especially on bad terms, that employee may wish to go into business for herself, using the experience and skills learned or acquired at her former employer as a means to promote her business or earn a living. Other times this employee may wish to take with her certain employees from the company that she would like to work for her. Also, she may want to solicit the company’s clients to get her business going. In all the these cases, the court will decide whether the non-solicitation clause is narrowly drafted to protect the employer’s interest, or whether it is too broad and unduly restricts the former employee’s right to earn a living. When drafting these non-solicitation agreements, an employer should be cognizant of these precedents and should carefully draft the contract to protect its interests while minimizing the restrictions on the employee.

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SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.

Popularity: 3% [?]

A forbearance agreement is a written contract between a borrower and a lender in which the lender agrees to refrain-forbear-from exercising a legal right against the borrower that the lender is legally entitled to exercise for the repayment of a debt. The lender agrees to forbear from suing the borrower or filing foreclosure documents in exchange for the borrower’s agreeing to a revised repayment schedule. Forbearance agreements are short term solutions and not used when the borrower has more long term debt troubles.

Forbearance agreements allow for breathing room and time for reflection and discussion.

Forbearance agreements:

• Give the lender the chance to cure deficiencies in its financial documents (lender benefit).
• Preserve any defaults or remedies (lender)
• Secure a release of claims arising from actions previously taken on the credit (lender).
• Provide more time for the debt repayment (borrower benefit).

Some of the common elements of forbearance agreements include:

• Confirmation of a debt;
• Confirmation of the lender’s interest in certain collateral;
• The lender’s consent to forbear;
• Acknowledgement that the borrower has no defenses or liabilities against the lender;
• Preservation of the lender’s defaults and other rights against the borrower;
• Affirmative and negative covenants;
• Certain conditions - adherence to the new payment schedule; agreement to sell inventory or other assets; or promise to seek the advice of a financial advisor, and
• “Drop dead” clause - the date by which the borrower must be current on the payments or else the lender will pursue legal action.

Popularity: 6% [?]