A brief legal consultation before signing a contract can save money and headaches later.Spending a few hundred dollars for an attorney to review a proposed agreement of any sort is a good business practice as it can save thousands of dollars and headaches in the long run before the transaction and the relationship have soured.
A brief legal consultation before signing a contract can save money and headaches later.
Spending a few hundred dollars for an attorney to review a proposed agreement of any sort is a good business practice as it can save thousands of dollars and headaches in the long run before the transaction and the online relationship have soured.
Many clients come to me after they have been sued over a standard form or “do it yourself” agreement used in a deal gone sour. The lawsuit got filed because the parties’ true intentions were not properly specified in the contract, resulting in uncertainty and ambiguity that create conflict.
Even a one-hour consultation and review by a lawyer of a proposed contract may reveal many pitfalls, including ambiguities in the language used, omissions of vital clauses like an attorneys’ fees provision, lack of precise definitions for key concepts and terms. unanticipated consequences of certain included clauses, and the undesirability of keeping the agreement short but overly simple, rather than lengthy and comprehensive.
In fact, the best practice is for each party to the agreement to consult with his own attorney for the review as each party’s interests will inevitably conflict. As the old Fram Oil Filter commercial used to say, “you can pay me now or you can pay me later.” Usually, now is cheaper than later. And, conflict is avoided, preserving the relationship and keeping the transaction going in the right direction. Image and slogan copyright Fram/Honeywell International Inc
The information in this blog post (“post”) is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from Reid & Hellyer, APC or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this Post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.