Did you know most business allow and expect proposed alterations to their contracts?
It can be a huge mistake to sign any contract that crosses your desk. Contracts can heavily favor the other party, and in the event of a dispute, you could be in a very difficult (and expensive position). It’s a mistake to let your excitement about a deal force you to overlook contract language, or to think that a specific contract is non-negotiable.
Too frequently, businesses make the following mistakes when confronted with a contract:
- Thinking legal review of the contract is too expensive
- Thinking contracts are non-negotatiable and must be signed as is
- Signing a contract without reviewing it
- Accepting unfair provisions
- Signing a contract without a full understanding of rights and obligations
Contract review is not only important to prevent companies from signing unfair or disadvantageous contracts, but also to preserve the relationship between the parties. If a party doesn’t understand or appreciate its rights and obligations, the relationship is doomed for failure. - Scott Wolfe
Wolfe Law Group reviews business contracts of all types for a reasonable flat fee. You simply send us the contract or purchase order, and we’ll have an attorney review it, write an opinion latter, and advise you about it. This crucial contract review can be the difference between a smooth working relationship and an expensive frustrating dispute.
Additional Information on Contract Review
Contract review is not to be taken lightly. Contractual language includes subtleties that are often missed by an untrained eye. Business owners who attempt to perform their own review of contract materials run the risk of misinterpreting key phrases. It is truly unfortunate when business owners sign a contract only to discover later that they did not agree to what they thought they did. This situation occurs all too often when businesses neglect to seek legal advice for contracts. It is certainly a good idea to read contracts and attempt to understand them, but it is not a good idea to sign anything without first having an experienced attorney perform a contract review.
To review contracts effectively, a familiarity with the industry is helpful. The successful legal review of contracts involves being able to recognize unfavorable clauses. Without industry knowledge, it can be difficult for a reviewer to spot when one party is trying to take advantage of another.
No deal point is insignificant during the review of contract materials. Each line of a contract is important and subject to potential revision. Business owners sometimes make the mistake of being satisfied with a contract that is “close enough.” Close enough is not good enough. In fact it is very dangerous. A contract’s language should be exact. Legal language must be painstakingly crafted to capture the proper intent. Vague language is a serious problem because in the event of a future dispute certain provisions could be open to multiple interpretations. Making sure that each provision of a contract only has one legal meaning is an essential part of the contract review process. This attention to detail is an important way for businesses to protect themselves.
Letting personal feelings take over during the review of contract papers is another pitfall businesses sometimes face. Some people fear that disagreeing with proposed contract provisions will negatively impact the working relationship with the other party. This fear is usually unfounded, because honest and careful contract negotiation tends to create a solid platform of mutual respect and understanding between the involved parties.
The legal review of contracts is something our attorneys do every day. They review contracts of all types and complexity with care and dedication. They draw from years of experience when dealing with the legal intricacies of contract provisions. Clients can relax knowing that they have such a wealth of expertise on their side.