In this week's Freedom Friday blog and email newsletter, I want to talk about an important question, and one that is not asked often enough, and that's “Why Should an Attorney Draft Every Contract?” There are basically three (3) options out there for drafting contracts, especially custom contracts where negotiation is involved. There is the DIY option, where the parties draft the contract themselves with no legal assistance or help whatsoever. This is not frequently done, especially as compared to the second option. The second option out there for drafting contracts is to use a template. This is also a DIY option, but unlike the first option when you are starting from scratch, if you choose this option, you are using a template for the contract, perhaps even a template from a website like LegalZoom or a similar service. The template was probably created by an attorney, but that attorney probably doesn't know the specific details to your specific situation. The third option, and the one I recommend to all my clients, is to have an attorney draft your contracts. In today's Freedom Friday blog and email newsletter, I want to give three (3) reasons why an attorney should draft every contract.
Attorneys Reduce Vagueness in Contracts
The first reason why an attorney should draft your contracts is that an attorney will reduce vagueness in your contracts. Many contracts that are drafted by the parties themselves or even when the parties use a template, essential details are left out, and these are the details that create conflict later on between the parties, and sometimes leads to litigation that could have been avoided if these key details were not left out of the contract. Hiring an attorney to assist you in drafting your contract will reduce vagueness in your contracts, and make sure all the necessary details are included in your contract to avoid future problems.
Attorneys Draft Enforceable Contracts
The second reason why an attorney should draft your contracts is that an attorney will draft an enforceable contract. Many contracts which are drafted by the parties or with a template lack key provisions which will make the contract unenforceable, or less enforceable. When there is a conflict, you want to be able to enforce your rights based on the contract. If the other party has not paid or has not performed, then you need the ability to enforce the contract and take them to court, if necessary. Hiring an attorney to assist you in drafting your contract will make sure your contract is enforceable.
Attorneys Avoid Loopholes
The third reason why an attorney should draft your contracts is that an attorney will avoid loopholes. The most important reason an attorney should be involved in both negotiating and drafting contracts on your behalf is to protect your interests and the interests of your business. A major way that your interests can be negatively affected in contract negotiation and drafting is the creation of loopholes so that the other party can avoid being responsible for their part of the transaction. If you want to avoid loopholes and keep the other party accountable, the best way to do so is to hire an attorney to assist you in negotiating and drafting your contracts.
If your small business is having issues with contracts, leases, business partners, collection issues, or experiencing other barriers to growth, please contact me at [email protected] to schedule a FREE strategy session.
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