A lawsuit can bring down a business. That’s one reason responsible business owners keep the entrance to their business clear of trip hazards and put up “caution” signs after mopping the shop floor. Although a lot of business owners are less careful when it comes to avoiding contract disputes, lawsuits over contracts have crippled many businesses both large and small. The best way to avoid this fate is to always enlist the help of a contract attorney to help craft your business agreements. Your contract attorney at Coastal Law can, of course, help you deal with contract disputes when they come up, file lawsuits, and defend lawsuits, but – even better – we can help you avoid these disputes by making sure your contracts clearly specify everyone’s obligations and rights, avoid misinterpretations, anticipate potential disputes, and provide remedies in the event of a breach of the contract.
What Is A Business Contract?
A contract is a written or verbal agreement between two parties accompanied by consideration, or payment of some kind. It may be a fully negotiated, written agreement, a casual exchange of emails, or even a set of promises sealed with a handshake. So why not keep things simple, intimate, and old-fashioned? Why hire a lawyer and draft something in legalese when you could just shake on it, show some trust, and demonstrate good faith toward the people you do business with? Because business dealings are complicated, and everyone looks out for their own interests. If you don’t negotiate the terms and write down the agreement, there’s no way to be sure you and the other party share the same understanding of your agreement. A written contract ensures the other party does not “misremember” or even lie about the terms of the agreement. A written contract makes sure each party understands their obligations, allows them to ask questions, and addresses any ambiguity before finalizing the deal.
How Can My SC Contract Attorney Help?
When it comes to contracts, you don’t want there to be room for interpretation. If you end up in a contract dispute, and it becomes a he said/she said situation, you may not like how a court resolves the issue. If you have a well-written, carefully thought-out agreement negotiated and drafted by your attorney, the other party is more likely to abide by the terms they agreed to, and, if there is a dispute, the court will have the exact terms of the agreement and will enforce them. This is why hiring a business contract attorney is an investment – paying a small amount up front to make sure your contracts are in your best interest and legally enforceable gives you peace of mind because you know it is far less likely you will end up in a costly, time-consuming dispute.
When Do I Need A Contract?
You should always have your attorney draft, review, or negotiate your contracts in the following situations:
- Business formation: When you go into business with others, it’s important to ensure everyone knows how the business will operate, who gets what if the business is dissolved, and the responsibilities and liabilities of all owners and partners.
- Buying and selling: Whether it’s ongoing vendor agreements for the purchase or sale of goods and services or large purchases like real estate or equipment, an attorney-drafted contract will cover everything that could go wrong and what remedies each party could count on.
- Franchise agreements: If you go into business with a franchisor, they will definitely have experienced contract attorneys drafting any agreements they propose and making sure their interests are covered. You need an attorney to make sure your interests are also protected.
SC Contract Attorneys in Myrtle Beach, Conway, Charleston, and Columbia
At Coastal Law, our business contract lawyers file lawsuits, defend lawsuits, and do everything possible to protect the financial interests of our business clients. Among the most valuable services that we can provide for you, however, is helping you to avoid litigation whenever possible… If you are a SC business owner, you are most likely entering into agreements that can have real financial consequences when they are breached – call Coastal Law now at (843) 488-5000 or contact us through our website for a free consultation about how to protect your business.