Drafting Contracts

Need a Contract?

If you are asking yourself if you need a written contract, probably do.  Whether you are leasing a house, leasing an apartment, hiring a contractor, buying goods, entering a business arrangement, buying or selling a vehicle, or entering into any type of agreement where more than one party will owe a duty to another party, you should probably have a written contract. At the very least, contracts should identify the parties to the contract, the time frame in which the contract should be performed, and the duties or obligations of each party.  Contracts identify and often create the law that will govern the relationship between the parties.  If a dispute does occur, the contract should define the rights of the parties to sue in court versus arbitration or mediation.  The contract should identify what types of damages can be recovered.  Will the prevailing party recover attorney’s fees if they win in Court.  What county will the lawsuit be filed in.   A good contract not only minimizes the chances a dispute will arise, but it establishes the rules for resolving a dispute as well.   

Contract Review & Contract Negotiation

In most contractual relationships, one party or the other gives the other party a contract to sign, at least as a starting point.  You may not need a lawyer to draft a contract from scratch, but if you have any questions at all about what contract terms mean or could mean, you should have an attorney review the contract.  The most common false assumption people make is that the conract they were given was “a standard contract.”  Clients often say, “that didn’t sound right, but I didn’t know I could change it or negotiate new terms.”  The truth is, everything is negotiable, especially in real estate contracts.  Real esate professionals are great at marketing properties, finding deals, and advising clients on true market values, but most real estate agents and brokers are not attorneys.  Just because the contract they use is “standard” does not mean all of its terms are right for your situation.  Contract review often only takes a couple hours of attorney time.  A couple hundred dollars of legal advice might save tens or even hundreds of thousands of dollars in losses if a contract goes bad.  The attorneys at FBSW can review, revise, and negotiate contract terms for you.  Call us to set up an appointment before you sign on the dotted line.