Small and medium-sized businesses rely on strong relationships with others to survive. Much of this is impossible without contractual agreements that legally bind business arrangements together. Legal contracts consider your obligations and those of others, which is why every little detail goes into creating them.
Besides enforcing both sides to stay true to their commitments, legal contracts enable partners to evaluate relationships and risks. A single error in a contract can cost a small to medium-sized business significantly and potentially lead to a litigation process. Partnering with an attorney for contract review can help you prevent any risks.
This article will explain why you need an attorney to handle and review your contract.
What is a contract review?
A contract review is defined as a contractual process used to identify and analyze the key provisions within an agreement. An attorney or legal professional will read through each contract to understand the terms and conditions and highlight the risks.
What can a contract review do for you?
No matter the reason for using a contract, you want to ensure the contract will hold up in court if necessary. A contract lawyer can:
- Draw up new legal agreements
- Examine and review a legal document you already have
- Explain a contract to you
- Suggest changes to a contract in your best interest
- Offer guidance
Reasons why you need an attorney to review your contract
Here are several reasons why you need an attorney to review your contract.
An attorney who specializes in contract review will have the knowledge to see the benefits and drawbacks of specific contracts. If they find something hidden that could potentially hurt your business now and in the future, they can let you know so you can renegotiate the contract terms before signing.
Attorneys have experience in drafting contracts that explain each party’s responsibilities. They can review the contracts to identify any missing information and suggest terms and clauses to be included before you sign. You want to ensure that the contract protects you and your business from unforeseen circumstances.
Before you sign a contract, you’ll want to ensure it is enforceable. Many types of contracts cover different areas of law. Hiring a lawyer who knows the ins and outs of these areas of law can ensure that your contract is enforceable and will hold up if there are any disputes between you and the other party signing it.
A poorly written contract is a receipt for disaster. Delegating all of your contractual duties to a lawyer prevents any expensive disputes from arising. They will be able to outline your responsibilities clearly to avoid any disputes, hopefully. An attorney will also ensure clauses are included to resolve any disputes in a less intrusive way to your life and business.
Lawyers understand the ins and outs of contracts
Contracts are legally binding documents between parties. This means anyone signing a contract must understand their obligations under it. Understanding the contract terms is imperative, and an attorney can help you know what you are signing, what your obligations are, and what legal ramifications could have.
Don’t sign without talking to a contract review lawyer!
Talk to the legal team at Savvy Esquires if you’re getting ready to draft or sign a new contract. There’s no better way to ensure a contract will survive scrutiny in court and offer the fair outcome you’re expecting than to have a contract review lawyer inspect it from a perspective of experience and intimate knowledge of relevant state laws.
Schedule a consultation or contact us now for more information.