Coronavirus & Contract Law: What You Need to Know-Coronavirus & Contract Law: What You Need to Know

Video Transcription

Video Summary

James Waite from the Waite Law Firm presented a webinar on legal issues for equipment dealers. He discussed various topics, including manufacturer relationships, order cancellations and terminations, force majeure, potential liabilities with sales and rentals, and how to protect businesses and assets. He emphasized the importance of reviewing contracts to ensure they adequately protect dealers and include provisions such as waivers of warranties, limitation of damages, indemnity and hold harmless agreements, and a right of repossession. Waite also discussed the potential risks of breach of contract claims and tort claims, such as negligence and strict liability, and the importance of insurance coverage, including products liability insurance. He highlighted the need for dealers to update their contracts, obtain guarantees, require deposits and prepayments, and notify legal counsel if encountering abusive practices. He concluded the webinar by answering questions from attendees.

Keywords

James Waite

equipment dealers

manufacturer relationships

liabilities

contracts

insurance coverage

breach of contract claims

legal counsel