“This contract isn’t worth the paper it’s written on” is an old cliche. But a good attorney can find holes in all too many business contracts.
There are many ways you can enter into an enforceable agreement or a contract, including, in some cases, by verbal agreement. By the same token, there are many ways in which you can render your agreement unenforceable, or make an agreement that is unenforceable from the outset. Contract law is a complex subject (to put it mildly). Your contracts and agreements need the review of an attorney, who can help you make your agreements stick, under the force of law, if needed. Not every agreement you make rises to the legal standard of a contract, in the eyes of the law. But in business, many agreements do meet that standard.
When you entered into the contract, both parties took upon themselves certain duties and obligations that are to be performed. Either party’s failure to follow through on these duties is known as a “breach” of the contract. You may miss a deadline, or fail to comply with some or all of the terms of the agreement. When a contract is breached, the law provides an array of remedies.
The most common mistake made by business owners is to take a competitor’s contract, and tweak it for their own purposes without having a lawyer review it. It looks and sounds great to the business owner. But it may expose your business to liability and leave you without proper remedies if a breach occurs. If there is any place in your business that you clearly need a real attorney, this is it.
The process of creating a contract that really does what you want it to do, requires experience and a deep knowledge of the law. As much of contract law is State law, if you are dealing with out of state customers, contractors or suppliers, you have even more reason to get an attorney’s blessing of your contract language. Don’t sign a contract without a legal review.
From our Hollywood Boulevard offices, Webb & Ord are real estate and business litigation attorneys who take cases and clients from all over the State of California, and from all corners of commerce and industry. This includes the review of existing contracts, drafting of new contracts, defense against contract breach claims, and suing to enforce contract performance. Call us at 323-462-3736.