How Contract Review Can help Avoid Future Disputes
Entering into contracts with other individuals or organizations is an essential aspect of conducting business, regardless of the industry in which a particular company operates. After all, the very act of agreeing to perform a service or provide goods in exchange for some type of compensation is a contract, even if the agreement is verbal and finalized with a handshake. Many contracts, of course, are written and follow legal formalities in an attempt to clarify the terms of the agreement in such a way as to minimize the risk of a dispute and to minimize the risk to each party in the event of litigation. Unfortunately, contract disputes will arise and result in commercial litigation, even when the agreement was artfully drafted. For this reason, it is important for anyone considering entering into a business contract to have the agreement reviewed by an experienced attorney.
The kinds of contracts regularly used in business include employment agreements, purchase agreements, nondisclosure agreements, and those for the provision of services. There are many ways that having your business contract reviewed by an attorney can help you. Some of the more common include the following:
- Contract review will ensure that you fully understand the terms of the agreement – The legal language used in contracts can often be difficult to understand, even to those with legal training. For this reason, it is important to have a skilled contract attorney thoroughly analyze and explain the terms of the contract into which you are considering entering.
- Having an attorney review your agreement will ensure that it is enforceable – There are some situations in which a contract may be unenforceable. By having a lawyer thoroughly review the contract you are considering signing, you can be sure that it will be enforceable, should a dispute arise later.
- A lawyer will identify any significant omissions that may exist – A contract should ideally address all potential issues that may arise in the course of its performance and how they will be dealt with. People who are unfamiliar with business contracts often do not have the experience to anticipate these kinds of issues and may not include important terms in their contracts. By having an attorney review your case, you can ensure that your contract is comprehensive and minimizes your risk of loss.
While there may be upfront costs associated with having a lawyer review your contracts, litigation can be extremely costly and can easily cost tens of thousands of dollars. For this reason, it is highly advisable for business owners who regularly enter into any type of contract to have their documents and agreements fully reviewed by an experienced attorney.
Contact A West Palm Beach Commercial Litigation Law Firm Today To Retain Legal Counsel
Failing to have your business contracts reviewed by an attorney can have significant consequences. The lawyers of Pike & Lustig, LLP are skilled West Palm Beach commercial litigation attorneys who are committed to meeting the needs of businesses of all sizes. Call our office today to schedule a consultation with an experienced attorney.