A solid business contract can protect your business. On the other hand, a poorly written contract can undermine your business. A skilled contract attorney can save you stress and money in crafting a business contract that protects your interest.
Call attorney John Hicks at 206-782-2111 for a thorough review of your business contract. Mr. Hicks has been practicing contract law for thirty years. He utilizes his MBA degree to understand the nuances of business, finances, and corporate strategy.
Why you should have an attorney draft your contracts.
- To clearly state the terms of your agreement
- To include terms favorable to you:
- Forum selection (make sure any lawsuits are conducted in your home town)
- Choice of law (require application of the state law most favorable to you)
- Award of fees and costs (not the general rule in the U.S. unless called for in an agreement or granted under a statute)
- Specify alternate dispute resolution such as arbitration to hold down costs in the event of a dispute
- To prevent lawsuits or minimize their cost
For you to enter into a binding contract, there needs to be:
- An offer
- Acceptance of that offer by the party to whom it is made
- Consideration – that is, something of value given by each side for what they are getting from the other
The contract generally needn’t be in writing – oral contracts can be perfectly binding. However with an oral contract, you can have problems proving the terms of the contract in the event of a dispute.
Because of this, you should enter into written agreements that clearly state the terms. A seasoned lawyer can provide the guidance you need to craft clear, binding agreements.
An unclear contract can result in a lawsuit that can cost you many thousands of dollars, not to mention the emotional cost and lost time.