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Almost all business dealings involve contract law.
You probably enter into business contracts every week. Nearly every time you agree to take an action with another party, hire an employee, or buy or sell goods and services, you are entering into a legally enforceable contract. The best way to enforce and prevent future legal problems is to get all agreements in writing and to have each one reviewed by an attorney before you sign it. This creates proof of what was agreed upon and will protect your business in the event of a future dispute.
Well written contracts prevent law suits.
This firm is in the business of preventing lawsuits, not profiting from your misfortune.
A large contributing factor to commercial lawsuits and liability is the fact that arrangements are not spelled out explicitly and in adequate detail. When the parties to a transaction are left without knowing their rights and responsibilities, deals break down, fingers are pointed, and a major problems occur. When agreements are vague, or not recorded, it makes it easier for the parties to forget the terms of the agreement and begin to feel cheated. One party will remember the agreement meaning one thing, the other party will remember the agreement meaning something else, and a costly lawsuit will ensue.
However, when contracts terms are recorded and clear the parties will always be on the same page. Even if a well written contract is breached, it will be much less costly to enforce than a vague contract or an oral agreement.
Well written contracts protect business reputations.
Often times business owners want to “keep it simple” by having a “short and simple” contract. Business owners may believe they appear more honest, trusting, or trustworthy if they accept deals on handshake agreements. However, handshake agreements may still be binding contracts and transactions that seem the simplest may be the most dangerous. When the terms of an agreement are not explicitly recorded, the parties will remember the agreement differently and start to feel cheated. Even if lawsuits are never filed, when there are misunderstandings about the terms of an agreement, one or both parties will start thinking they recieved a raw deal and business relationships and reputations are ruined.