Beware of expired contracts
By Stephen D. Sayre & Darnell Clayborn
Business and Securities Law,
December 2016
Companies need to have reliable systems in place for monitoring their outstanding contracts to ensure they are not performing under expired contracts. This is especially important for companies that include significant risk-mitigation terms in their contract templates, such as damage caps and exclusions on certain remedies and damages. Failing to do so exposes these companies to significant risk if a contract expires.
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