An Austin Business Defense Lawyer can assist you and your company in writing and reviewing all business contracts. For simple contracts, you can follow these general guidelines:
- It is not necessary to use legal terms in writing a business contract, but you should be explicit and detailed using verbiage that is easily understood. As an example, if you have hired a catering service to provide dinner for a special event, it’s important to discuss the specific entrée you expect your guests to be served, the specific drinks, dessert(s), etc. In addition, you need to have a specific time for the food to arrive, and served, etc.
- Make sure your business client understands all of your requirements by delineating them in writing in advance of negotiating the contract. Even when you’re doing business with a friend, never assume that they know your requirements. Making everything clear and in writing up front will be an invaluable asset if a disagreement should occur along the way.
- Always research state and local regulations and federal laws that may have a relevance to your business contract. If you are thinking about leasing property, it is often to your advantage to check with an attorney familiar with these laws. These laws and regulations can also be researched online.
- If the contract is “renewable,” always include the renewable terms.
- Include a clause for breach of contract which is also referred to as “liquidated damages.” You will want to be specific regarding the amount offending party will pay if the terms of the contract are not met.
Before you sign a business contract it is advisable for you to have an attorney review it and assist you with negotiations to ensure that you are getting what you want out of any contractual agreement. Do not assume that simply not understanding the terms of a contract will help you in court.
Most binding contracts are complex and difficult to understand. Contact Austin Business Defense Lawyers at Shaw Cowart law firm today to review your business contracts.