What is the importance of a well crafted business contract and why should you have important contracts reviewed? The short answer is time, money and liability. The reality of today’s business contracts is many are drafted by the parties themselves. This is a recipe for disputes, litigation and at best lost profit and opportunity. Download form sites lead you to believe you can craft your own contracts. After all “a contract is simply the extension of an offer and the acceptance of that offer.” Not so fast. If a business relationship or transaction is important enough to you and your company to require a contract it should tell you it is important enough to have the right contract, especially if the transaction or relationship is repeated again and again.
California laws are the most extensive and complex in the nation. Download forms simply do not fulfill many of the important terms and clauses required to do business here, even if they claim to be “California” forms. A well crafted contract directs the transaction or relationship smoothly from beginning to end. It clearly establishes the responsibilities of each party and the “benefit of the bargain” anticipated by each party of the agreement. Well constructed business contracts anticipate all of the challenges which might arise and prescribe a solution for these challenges in advance.
Does time matter to you? A poorly constructed agreement leaves too many vague areas which leads to dispute and delay. When the parties cannot agree, the dispute can require months or years to resolve. The expense associated with legal fees, financial damages, mediation, arbitration and court costs as well as the lost profit and opportunity cost associated with the dispute are substantial. The liability which can arise due to a poorly constructed business contract can grow to be quite significant, even when the amount of the particular transaction is proportionately small.
Allen Barron’s experienced legal services team have extensive experience with business contracts and California contract law. We understand the importance of a well crafted business contract to our clients while sharing their concern to extend cost-effective and timely services. The cost of a good contract is minimal compared to your actual risk in time, money and liability, especially when the contract will be used repeatedly across multiple customers, suppliers or employees. We invite you to contact us for a free consultation at 866-631-3470 to learn about our contract creation and review services and how we can support the smooth transactions, relationships and profitability of your business.
