A business contract is a legal document that outlines the rights and responsibilities of both parties. For a contract to be enforceable, it should contain five elements:
- an offer
- consideration and mutuality of obligation
- acceptance
- agreement
- competence and capacity
Around 36-53% of small businesses are involved in litigation at least once each year. Contractual disputes are one of the most common reasons for a business to enter into litigation.
Businesses need to write watertight contracts. As an effective contract will prevent misunderstandings and expensive litigation.
Contract drafting should be done until the watchful eye of an attorney who helps you understand the purpose of each clause. Whatever shape and size of your business, it makes sense to hire a contract lawyer near you.
Contract lawyers are well-versed in contract laws. Your attorney will help you draft, review, negotiate, and execute contracts while navigating the complex legal maze. Your contract lawyer will play a crucial role in keeping contractual disputes out of court.
Here are some compelling reasons to hire a contract lawyer near you.
Better Understand Business Contracts
Business contracts can be lengthy and often include several complex clauses. Even if you are patient enough to read all the terms and conditions of a contract, you will come across various legal verbiage that require a detailed understanding of contract law.
Your contract lawyer will break down the provisions of your contract. They will explain every clause in detail and point to critical provisions you may have overlooked. Contract lawyers hired by the parties work in unison to ensure the document represents the intent of every party involved.
Ensure the Contract is Legally Enforceable
There are several elements that a legally enforceable contract must include. If your contract excludes any of these elements, it can’t be enforced, even if the other party does not meet their contractual obligations. Your contract lawyer will review your contract and make changes, if necessary, to ensure it is enforceable.
Ensure New Regulations and Applicable State Laws Are Considered
Contract lawyers stay on top of legislative changes. Contract laws can vary between states. If you are operating your business in multiple states, a good contract lawyer will know exactly how to tackle differing laws.
Your Attorney Will Respond to a Breach
If a breach occurs, your contract lawyer will educate you on your options and advise you on the best course of action to resolve the dispute amicably.
Not sure if your contract is legally enforceable? Let The Law Office of Stephen M. Beckwith help. Stephen has experience drafting contracts for businesses of all shapes and sizes. He will create a contract tailored to suit your specific needs. To consult him, call (707) 526-5454.