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This course is intended to be an introduction for people new to contracts, and a guide for more experienced users, to common types of liability clauses in contracts.  The course begins with a brief overview of what is involved in a contract, and where liability clauses come into play.  We then do a deep dive into some of the more important liability clauses, such as Warranty and Indemnification.  The course closes with special-case examples of clauses that may appear, and describes potential meanings and impacts.  Finally, a brief review of common errors in contract drafting is presented.

Learning Objectives
  • Recognize the implications/interactions of liability and related contract clauses.
  • Bolster your role in determining value managing risk for these non-deliverable-related clauses.
  • Be an informed consumer of legal counsel, so that you are more adept in guiding their advice to correspond to your business needs.
  • Be prepared to negotiate terms relative to your business needs, with increased competence in understanding the risk and value of particular items.
Last updated/reviewed: August 24, 2023
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12 Reviews (38 ratings)

Reviews

Member's Profile
definitely intermediate level. if you don't have a strong background, there will be a lot of new material here. poor recording of the speaker with a lot of static--painful to listen to. this could have been easily corrected with an audio program. poor slides. One slide per segment when there could have been 2 or 3 more for greater clarity and detail.

4
An extremely thorough review of Contracts and issues relating to contracts based on a CFO's perspective vs an Attorney's. I like the fact that an actual contract of a well known company is used as the basis for most of the examples.

3
Anonymous Author
Coverage of key contract terms, such as warranty, indemnification, etc., with suggestions. Usually spoken in terms of contracts with customers, rather than commercial contracts with suppliers.

4
Anonymous Author
Great summary of many contract clauses that I have routinely seen in contracts that I reviewed from a financial perspective. Always great to learn what these are saying (for non-lawyers).

3
Anonymous Author
The course reflected the inherent risks of not carefully reviewing and understanding the various terms of the contract. I particularly like the glossary and indemnification cheat sheet.

4
Member's Profile
Some of the terms were not new to me but the applied examples shed a light on the intent of using such terms in a clear pragmatic manner

3
Member's Profile
The use of Facebook's terms and conditions in the course was distracting. Facebook in one of the world's most vile companies.

4
Anonymous Author
The test questions were not clear. This surprised me. The slides are not enough to be used as reference material.

4
Anonymous Author
Overall a good course. The written content could be little more and reader friendly.

3
Anonymous Author
Lots of material covered, thanks for the great real-life stories, they always help.

4
Anonymous Author
Very confusing and boring if you don't have a legal background.

3
Anonymous Author
Good overview.

Prerequisites
Course Complexity: Intermediate

Prerequisite: Exposure to legal principles and a basic familiarity with commercial or similar agreements.

Advanced Preparation: None

 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
THE PARTS AND PIECES
  Breach and Cure10:01
  Term and Termination9:12
  Warranty Disclaimer10:24
  Warranty: Carving Back In8:38
  Indemnification Part 113:10
  Indemnification Part 213:31
  Jurisdiction3:43
Wrap Up
  Summary 13:29
Continuous Play
  Contracts: Understanding and Negotiating Liability Clauses 1:34:36
SUPPORTING MATERIALS
  Slides: Understanding and Negotiating Liability ClausesPDF
  Glossary/Index: Understanding and Negotiating Liability ClausesPDF
  Indemnification Cheat SheetPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam