Three Simple Contract Clauses: Venue, Arbitration, and Attorneys' Fees ("Minnesota Law, Presented by Moss & Barnett")

Sarah Doerr discusses three simple – but critically important – ways in which parties to any type of contract can protect themselves if a dispute later develops. These are specifying the location or venue of where the dispute will be held, the use of an arbitration clause, and specifying that the loser of the dispute has to pay the attorneys' fees of the non-breaching party. These items are often neglected as the parties to a negotiation press for closure of a deal on the all-important economic and business terms of the underlying contract, but they are amazingly useful if one of the parties later breaches the contract.