A written contract is an important document and you can easily give away important legal rights if you do not speak with an attorney before entering into a contract. If a matter is important enough to have a contract, it is also important enough to obtain legal advice. Here are some top reasons to see a lawyer before you sign a contract:
- Save money. More often than not, the cost of having the contract reviewed or drafted is quite small compared with the cost of settling disputes in court.
- Don’t give up important legal rights. Some contracts may contain provisions waiving your right to go to court in the event of a dispute and requiring you to arbitrate in some distant state. You may also waive other legal rights such as the right to notice, the right to cure a default or the right to assert a setoff against an amount being claimed by the other party.
- Your agreement, your contract. There is no need to fit your issues into a pre-existing contract form. A written contract should express in writing the exact terms of the agreement that the parties have reached. When you engage an attorney at the beginning stages of negotiation of the contract, the attorney can assist you in raising issues that need to be addressed between the parties and preparing a contract that accurately reflects each term of your agreement in the written document.
- Proper parties. A contract should be properly executed by the proper parties. If it is not, you may mistakenly assume personal liability under a contract that was intended to be an obligation solely of a business entity.
- State & Federal Laws. Many state and federal laws can be automatically included in your contract without your knowledge. Sometimes, contracts that are contrary to provisions of law may be void or construed in a manner completely different from the parties’ original intentions. Review by an attorney with the proper legal training can make sure that your contract is in compliance with applicable law.
Miller, Turetsky, Rule & McLennan is skilled at preparing and reviewing contracts in a manner that protects your rights, fairly represents the agreement you have reached and anticipates and addresses issues that could cause future litigation.