Business contract law assignment
Assignment #5: Review the following Clause from a Management Contract;
1- Highlight details in Yellow and return to me.
2- Include a short Outline of the important points, tell me what you see hereinbelow, and
3- If the Artist had clout, what would you expect to see different in these clauses ?
4- DUE March 10, 2020
(Power of Attorney) Artist hereby irrevocably appoints Manager, within the Territory and for the term of this agreement, including any extensions or modifications hereof as Artist’s true and lawful attorney-in-fact, to do the following:
(a) to sign, make, execute and deliver all agreements or contracts in Artist’s name as if Artist were personally present; and
(b) to make, execute, accept, endorse, collect and deliver all bills of exchange, checks and notes in Artist’s name; and
(c) to demand, sue for, collect, recover, and receive all goods, claims, money, interest or other items that may be due to Artist or belong to Artist and to make, execute and deliver receipts, releases or other discharges therefore, under sale or otherwise, and to defend, settle, adjust, submit to arbitration and compromise all actions, accounts, claims and demands which are or shall hereafter be pending, in such manner as manager shall deem advisable in Artist’s best interests, including retaining attorneys and accountants to represent Artist’s interests thereof.
(d) In addition, and without limiting any of the foregoing, Manager may generally do, execute and perform any other act, deed or thing whatsoever that reasonably ought to be done, executed and performed, as fully and effectively as Artist could do if Artist were personally present.
(e) Artist expressly agrees that Artist will not exert any of the powers herein granted to Manager by the foregoing power of attorney without the express prior written consent of Manager, and all sums and considerations payable to Artist by reason of Artist’s artistic endeavors shall be paid to Manager on behalf of Artist. Artist further understands and acknowledges that the power of attorney granted to Manager is coupled with an economic interest on Manager’s part in Artist’s Career, in the artistic talents of Artist, and in the products of that Career and those talents and the earnings of Artist, arising by reason of such Career. Such power is therefore acknowledged by Artist to be irrevocable during the term of this agreement and all extensions, modifications and renewals hereof.
2.3 (Limitation on Appointment) It is expressly agreed that Manager’s jurisdiction and authority as personal manager, the power of attorney and compensation due Manager under this Agreement are limited to matters directly related to Artist’s Career in the entertainment industry and Artist’s professional business interests relating thereto; such jurisdiction and authority does not include Artist’s business interests which are separate and distinct therefrom. Get The Best Essay Writing Service Online with HelpHub