Nondisclosure Agreements, or “Confidential Disclosure Agreements” as they are sometimes called (biotech companies seem to prefer the “CDA” designation), are some of the most common types of business contracts. Although they are often signed with only a cursory review, each one should involve as much review and reflection as any other contract. This is because
This is part two of two posts about how to make your website’s terms of service an enforceable contract. Part 1 was about getting user consent. This one is about making sure that your ToS isn’t an “illusory promise”. What is an “Illusory promise”? In order to form a contract, each side has to promise
Two important principles of contract law for terms of service are “meeting of the minds” and “illusory promise”. Those phrases may sound a bit meaningless, legal, and abstract. However, each one holds a common pitfall that can void an entire website’s terms of service – as if it didn’t exist at all.