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Why You Need a Lawyer to Prepare and Review Your Contract

What is Contract Preparation?
A contract is a legally binding agreement. Contracts could be written or oral, but most important contracts are often written and signed by both parties. Contracts are the foundation of your business, and might be simple or extremely complex. Examples of contracts include sales agreements, employment contracts, real estate purchase contracts, and confidentiality agreements.

Preparing a contract is the act of writing out the terms and details of the contract, in order to outline the legal obligations of both parties, so that they fully understand the terms of the agreement and their respective duties towards each other. Contracts can be drafted by anyone, but a lawyer is often needed in order to make a reliable and secure contract, especially for the more complex contracts.

How are the Contracts Prepared?
Contracts might appear in many different forms, but one of the most used contracts is a standard form contract. A standard form contract, or standardized agreement is a contract between two parties, where the contract is prepared by one of the parties, and the other party has little or no ability to negotiate the terms that are more favorable for them. Common instances of adhesion contracts include insurance policies, housing and apartment leases, and tickets to events or shows.

What is a Contract Review?
To simply put it, a contract review is when a person signing the contract carefully reviews the document or has a lawyer review the document. This is to ensure you fully understand the terms and conditions of the contract.

Contract review is an essential step to make sure that there are little to no contract disputes in the future. When a contract dispute occurs, the first thing that the courts look at is the language of the document itself. If a problem were to happen, both parties could refer to the contract and pinpoint what is expected of them.

A clearly written and easily understood contract could reduce confusion between the parties. But if a contract is not written clearly, legal issues might arise. Therefore, it is imperative to thoroughly review or have an attorney perform a complete review of any contract before you sign it.

Since contracts could be lengthy and have become increasingly complex, most people often skim over paragraphs and do not actually know what they are signing. Having a qualified business lawyer look over your contract or contract draft may save you from a legal mess down the road.

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Should You Hire a Lawyer to Assist with Contract Drafting and Review?
Preparing and understanding contracts could be a very complex process. It might be in your best interests to consult with our knowledgeable and well qualified business attorneys.

Our experienced business attorneys will assist you from start to finish through the contract drafting and reviewing process and safeguard you against any complications. We will also help prevent other legal issues that arise from a poorly written contract and represent you in court, if needed.

Do you have a question about contract preparation and review? Click here to contact Von Esch Law today!

Courtesy of Cuselleration

Here Are 5 Reasons Why You Should Have a Lawyer Review Your Contracts

Being a business owner comes with a lot of work and you will have to review and look through a lot of paperwork that comes across your desk.

Part of the process for businesses is signing contracts and agreements with other people or companies who you want to work with. Flipping through these documents can be a tedious task, especially if the other party in an agreement comes with their own contracts to sign.

You might be tempted just to sign off on any agreement that comes by, but this can be a big mistake. It is always better to have an experienced lawyer review your contracts, even if you believe they are ironclad. This is especially true if another party brings their own contract or wants to revise parts of yours before they sign.

Here are a few reasons why you should hire a lawyer to review your contracts.

1) Hiring legal counsel will save you a lot of time and money as opposed to trying to solve problems down the road that emerged from a bad contract. A good lawyer will be able to advise you about certain terminology in contracts and be able to help you to articulate your thoughts into words that will give all parties in the contract the proper protection.

They will also be able to review your business structure and ideas and give advice about the potential pitfalls down the road that can be avoided with a good contract. All of this will be significantly cheaper than trying to fix problems after they occur.

2) A lawyer who reviews contracts serves as a valuable outside pair of eyes for your business. Many entities write and see contracts as just a tool to make money, or to market in a particular way. This can cloud the judgment of those actually writing contracts, potentially setting up problems in the future. Lawyers often look at contracts every day for clients who work in a number of industries. They will be able to look at yours with an objective perspective that will not be a distraction to other work and operations.

3) Having a lawyer review your contracts gives you a sense of legal protection if something does go wrong. If you just review your contracts, all the litigation is going to be on you because there will be no recourse. If your lawyer looks at one, then they can potentially be sued if something goes wrong.

4) Having a lawyer review a contract can make you more competitive in the long run. Other parties who want you to sign their contract usually have it written with their best interests in mind. Signing these can really hurt you down the road. Having an independent review of any contract gives you peace of mind to know a contract will not be egregiously advantageous to one party or the other, and might even help your future competitiveness in comparison to other businesses. A good lawyer is going to understand the legal terms in contracts that could have serious consequences and will be able to draw on their expertise to advise about what to watch out for.

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5) Very few business owners have any sort of knowledge when it comes to contracts. It’s always smart to stick with what you know and hire the experts to fill the gaps. Lawyers bring a lot more experience to the table when it comes to employment issues, leases, and business agreements.

Do you have a question about getting a lawyer to review your contracts? Click here to contact Von Esch Law today!

Courtesy of Cuselleration

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3 Reasons You Should Have a Lawyer Review Your Contracts

It can be tricky as an entrepreneur to call up a lawyer to review a contract. But failing to do so can have devastating consequences for your business.

A lot of things can go wrong thanks with a bad contract. You could end up forking over a lot more money than you should. You could lose your rights to valuable property, and even expose yourself to risky (and costly) lawsuits.

Therefore, it is important to spend the money on having a lawyer review contracts. It will be a lot more expensive for an individual to come in at the end of the day to revise and fix a bad one.

Here are three reasons why you should have a lawyer review your contracts.

1. Courts Find Them Easier to Enforce
A good contract means that it holds weight in court. But a generic contract or one you wrote yourself, thanks to the internet might not be able to actually be enforced in your area.

If you’ve chosen to broker an oral agreement, it might not even be valid for certain types of transactions.

On the other hand, contracts that have been reviewed and edited by a lawyer ensures that important jargon and terms are included so the contract is valid. Plus, a good lawyer will make sure the agreement is up-to-date based on state laws.

This is particularly important when it comes to non-compete agreements. They can be a variable way for you to keep talent from working with a competitor, but a non-compete you crafted yourself probably will have some sort of error that could make the whole agreement non-enforceable.

2. Contracts Reviewed or Written by an Attorney Are Thorough
Poorly written contracts, or one with glaring gaps, could open you up to disputes or expensive lawsuits. Lawyers are experts when it comes to contracts. They understand how to write them in a clear manner and how to mitigate any potential problems on the horizon.

A good attorney who reviews a contract will be able to fill in the gaps that someone might have missed and will have the legal know-how to suggest additional clauses.

Lawyers know that a good contract includes stipulations about what happens if one party does not hold up their end of the bargain.

Well-written contracts also take steps to limit your liability in a scenario that is beyond your control. Additionally, they will incorporate so-called “boilerplate” clauses that will minimize frivolous disputes.

With the help of a good lawyer, a contract becomes a document that helps resolve problems. It becomes something that can help shorten the length of any disputes, and make sure you stand a better chance of
winning the case.

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3. Attorneys Can Help Craft Contracts That Save You Money
An experienced attorney in your industry will know about the types of standard language and terms. As a result, their expertise will translate in a contract that favors you, their client.

Having an attorney look over a contract, or taking the steps to revise one, can be a useful way for you to potentially save a lot of money. An attorney on your side can give advice about how to push the boundaries in your favor, or at least advise you about reasonable terms and negotiation standards.

If you are writing a contract on your own, and the other side has an experienced attorney working on theirs, you might be subject to unfair terms or be put at a bad negotiating vantage point.

Overall, getting good legal advice when it comes to contracts can make or break your business.

Do you have a contract that needs to be carefully reviewed by an attorney? Click here to contact Von Esch Law today!

Courtesy of Cuselleration