Ten Basic Questions

  1. All Contracts Answer Ten and only Ten Basic Questions™.
  2. Therefore, any Contract can be analyzed by asking and ultimately determining how it answers or should answer each of the Ten Basic Questions.
  3. The Ten Basic Questions are summarized below in what we affectionately call the Contract Circle™

Ten basic questions info

1. Beneficiaries:
Who has rights under the Contract?

2. Obligors:
Who has obligations under the Contract?

3. Security/Collateral:
Against what assets may a party seek recourse in the enforcement of the Contract?

4. Enforcement Rules:
What are the procedural and substantive rules by which the Contract will be enforced or interpreted?

5. Representations and Warranties:
What are the factual or legal statements upon which a party to the Contract may rely?

6. Conditions to the Business Deal:
What has to happen or not happen in order for a party to be obligated to perform under the business deal?

7. Business Deal:
What is the allocation of control, economics and risk among the parties to the Contract?

8. Taxes:
What are the tax consequences of the transaction contemplated by the Contract?

9. Conditions to Remedy Enforcement:
What has to happen in order for a party to be entitled to enforce its remedies under the Contract?

10. Remedies:
What are the remedies available to a party in the enforcement of the Contract?

page-1


Click the numbers in the circle to find out more.
1. Beneficiaries:

Who has rights under the Contract?