Entering into any sort of contract gives you an obligation to fulfill, otherwise face consequences. It is a binding document signed by all parties involved, acknowledging the roles each party plays in it.
A unique feature of contracts is that they can be written anywhere and they would still be valid as long as it’s been duly signed. It could be scribbled on a table napkin–with a date, terms, and signatures–and it would be accepted and recognized in court as valid and binding.
Ideally, contracts will be iron-clad, which means that terms are crystal clear and that there won’t be any room for any loopholes. This is not the case most of the time, though, which is why conflicts arise.
Contract disputes may occur when at least one of the parties either refuses or fails to fulfill the terms of their agreement. It could also be due to an outright violation of the terms stipulated in the contract.
This is why it’s very important to spell out the terms and conditions clearly, with the definitions of every element and feature defined concisely. This is also what makes lawyers a crucial part of contract signing.
Not only can they make sure that your end of the terms is fair and viable, but they can also look and anticipate for any loopholes in the contract that may turn out disadvantageous for you. They can also determine if the contract could be binding in the first place.
All of these legal requirements surrounding contracts are meant to protect all parties involved, particularly when it comes to disputes that may arise later on.
Hiring a lawyer not only benefits you throughout the drafting and the signing of the contract, but they can also represent you later on in case problems arise in the fulfillment of the obligations. They can even help terminate a contract on your behalf should it become necessary.
Whether you want a new contract drafted for a particular project or service, or you have a contract dispute that may need to be litigated, Dean Prather Esq. PLLC is here to help. Dean is well-versed in contract construction and contract law.