Business contracts can determine the success of a transaction or business relationship. A well drafted business contract is like a road map – it guides each party through a business transaction, anticipates bumps in the road and provides a path to resolution for any challenge that might arise. The business contract should clearly establish the rights and responsibilities of each party, the consideration given in exchange for goods or services and the time frame for completion of the transaction. What happens when one of the parties fails to fulfill their part of the agreement?
When business contracts are poorly drafted, or simply downloaded and changed by one of the parties in an attempt to save time and money, then a Court will have to fill in the missing blanks. It is important to know the party who creates the contract has a distinct disadvantage in any subsequent dispute. Downloading forms is one of the riskiest actions a business person can take. Many business contracts are incomplete or the terms of the agreement are unclear.
When a dispute arises the parties find themselves involved in time consuming and expensive business litigation to resolve questions about the original intent of the agreement, as well as the damages associated with the failure to comply with the terms of the agreement. If you are the one who downloaded and edited the contract, you will lose on any issue where the agreement is unclear or fails to properly and fully address the issue(s) at hand.
The attorneys at the Watkins Firm understand business contracts can determine the success of a transaction or business relationship. Our attorneys have decades of experience drafting strong business contracts which anticipate issues and clearly define the role of each party and the nature of the agreement, while providing clear time frame and compensation terms. Our work is designed to prevent business litigation from ever arising, and to provide a sound framework or road map to guide the transaction to a successful conclusion. If you are considering a substantial business transaction, or are involved in a contract related dispute we invite you to contact us or call for a free and substantive consultation at 858-535-1511.