By Jeana Morrissey
You are finally about to land that much sought-after client, job, project, rental space or sales agreement, and you are ready to prepare or sign the business contract. It is vitally important that you not only put your agreement into a written contract, but that you review, negotiate and understand the terms and provisions to which you are agreeing in order to protect yourself and help prevent future problems. More than a binding legal agreement, a contract serves as an important point of reference for each of the parties, defines the relationship of the parties and irons out all your terms and conditions in advance.
If a dispute arises, the parties will look to the contract to determine how to proceed. The dispute is much more likely to be resolved if the contract is clear as to how the parties are to deal with that particular issue.
In addition, a well-drafted contract that protects your rights will benefit you if you must go to court. Say you’ve entered a contract to provide services to a customer. If the customer refuses to pay and you have to file a lawsuit in order to recover your money, the contract will be the primary key to your success or failure. The court will always look first and foremost to the written contract to determine the rights and obligations of the parties. For this reason, it is important that your contract clearly defines these terms. If the contract terms are vague or are missing key elements, it opens the door to arguments that the contract means something other than what you intended.
Moreover, an attorney reviewing the adverse party's rights and defenses will be more likely to advise the other party to pay or settle with you where the contract is solid as to your rights, thereby greatly reducing your legal costs in the long run. On the other hand, a poorly drafted contract might make it more difficult to collect from a customer, and may even expose your business to unanticipated liability.
The best way to effectively resolve disputes and avoid a potential adverse ruling in a lawsuit is to craft a solid contract in which you’re confident that you have negotiated the best terms for you or your business. We can prepare your business contracts or review contracts presented to you for the following situations:
You are finally about to land that much sought-after client, job, project, rental space or sales agreement, and you are ready to prepare or sign the business contract. It is vitally important that you not only put your agreement into a written contract, but that you review, negotiate and understand the terms and provisions to which you are agreeing in order to protect yourself and help prevent future problems. More than a binding legal agreement, a contract serves as an important point of reference for each of the parties, defines the relationship of the parties and irons out all your terms and conditions in advance.
If a dispute arises, the parties will look to the contract to determine how to proceed. The dispute is much more likely to be resolved if the contract is clear as to how the parties are to deal with that particular issue.
In addition, a well-drafted contract that protects your rights will benefit you if you must go to court. Say you’ve entered a contract to provide services to a customer. If the customer refuses to pay and you have to file a lawsuit in order to recover your money, the contract will be the primary key to your success or failure. The court will always look first and foremost to the written contract to determine the rights and obligations of the parties. For this reason, it is important that your contract clearly defines these terms. If the contract terms are vague or are missing key elements, it opens the door to arguments that the contract means something other than what you intended.
Moreover, an attorney reviewing the adverse party's rights and defenses will be more likely to advise the other party to pay or settle with you where the contract is solid as to your rights, thereby greatly reducing your legal costs in the long run. On the other hand, a poorly drafted contract might make it more difficult to collect from a customer, and may even expose your business to unanticipated liability.
The best way to effectively resolve disputes and avoid a potential adverse ruling in a lawsuit is to craft a solid contract in which you’re confident that you have negotiated the best terms for you or your business. We can prepare your business contracts or review contracts presented to you for the following situations:
Hiring, or being employed as, an employee or independent contractor
· Employment contracts
· Confidentiality agreements
· Non-compete agreements
Buying or providing services or goods
· Contract for services
· Product sales contracts
· Vendor contracts
Entering into leases and other real estate agreements
· Commercial leases
· Residential leases
· Purchase and sales contracts
· Promissory notes
· Deeds of trust
· Security agreements
Buying or selling a business
· Asset purchase agreements
· Stock purchase and sale agreements
· Consulting agreements
· Promissory notes
· Security agreements
· Non-compete agreements
Entering into business affiliations and common ventures
· Co-ownership agreements
· Partnership agreements
· Joint venture and other agreements between parties
· Employment contracts
· Confidentiality agreements
· Non-compete agreements
Buying or providing services or goods
· Contract for services
· Product sales contracts
· Vendor contracts
Entering into leases and other real estate agreements
· Commercial leases
· Residential leases
· Purchase and sales contracts
· Promissory notes
· Deeds of trust
· Security agreements
Buying or selling a business
· Asset purchase agreements
· Stock purchase and sale agreements
· Consulting agreements
· Promissory notes
· Security agreements
· Non-compete agreements
Entering into business affiliations and common ventures
· Co-ownership agreements
· Partnership agreements
· Joint venture and other agreements between parties
A well-drafted contract for goods and services is just one way to prevent needless costs before they arise. In other words, you may not want to spend money on an attorney before you enter into a contractual obligation or make a business decision, but it could end up cutting your costs significantly in the long run.
About the Author: Jeana R. Morrissey is a Business and Real Estate Attorney practicing in Gilbert, Arizona.
About the Author: Jeana R. Morrissey is a Business and Real Estate Attorney practicing in Gilbert, Arizona.
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