Lawsuits often begin because of not using contracts, using a badly worded contract, or when one or more parties break one or more contract terms. Contracts are no stronger than the weaker of the people signing the contract.
This article is my opinion and is not, legal advice. I am a judgment recovery referral expert, and not a lawyer. When you ever want a strategy to use or legal advice, please retain a lawyer.
When you're using your contract for several people or companies over several years, you'll probably have revised and updated your contract several times. When you modify or copy a copied contract, or are making one from scratch, it's a good idea to retain a lawyer to review the contract for use in your state.
The right time to work out contracts is early, when all the parties are on good terms. It's fine for your contract to be leaning toward one side, however they should not be totally one-sided. Contracts should identify advantages for all parties. Even when everyone sign a contract, a court may someday determine that your contract as being one-sided.
The simpler a contract is, the better chances are, that it will not appear in some court room. Try to avoid putting any more than what's necessary in contracts. A few common paragraphs found in contracts include:
A) Should any legal proceedings be necessary to understand or enforce any provisions of this contract, then the prevailing party in that legal action shall be entitled to collect all court costs, reasonable attorney costs and fees of enforcing or collecting any judgment awarded. The venue of all legal proceedings shall be the county of County, State. (This type of wordings restrict the places where someone can begin a lawsuit, and also helps to reduce frivolously-filed lawsuits.)
B) When a court rules that a certain section of this contract is invalid or illegal, that will not affect the validity of any remaining provisions. All parties agree that the laws of the state of State shall govern the validity of this contract.
C) This contract will be binding upon all parties and their respective estates, successors, heirs, and permitted assigns.
D) This contract can be changed only with the written consent of each party. This contract may not be assigned by either party without written consent of the other. This contract may only be canceled by a mutual agreement between the parties, by either party notifying the other party in writing. This contract is the entire contract between all parties signing this contract.
The more tied to actions and specific a contract is, the easier it will be to enforce and comply with. Another reason to run contracts past a lawyer, is be certain they are not deceptive or unfair.
Ideally, nobody should feel forced to sign a contract. Good contracts both reduces the chance of a future lawsuit, and also increases the odds of having a victory, if a lawsuit arises.
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