While a valid contract can exist verbally or through conduct, the most robust of contracts exist in written form. A written contract is a legally binding document. It may be used when services or products are provided in exchange for compensation, or when there are specific duties to be performed. Business contracts are important because they explain the duties and responsibilities of each party and outline how problems will be resolved. Because contracts are legal agreements, you may take another party to court for breaches of a contract. You must note, however, that there are several elements that must be included in a business contract to make it valid. Thus, a business contract must be prepared with careful consideration. If you want to ensure that your contract can stand up to legal scrutiny or your rights are protected in another party’s contract, you should consult a contract lawyer.
How Does a Contract Lawyer Work?
Drafting or reviewing a contract requires a collaborative effort. When you first meet with a lawyer, you will need to explain the objective you would like to achieve or the scenarios you would like to avoid in your contractual relationship with the other party. The lawyer will then tell you whether a contract is a right solution for your situation. The lawyer may also recommend additional legal services to ensure that your business interests are protected. Once the lawyer understands your goals, he or she can then start the process of drafting the desired contractor advising on how best to protect your interests in the existing contract. If drafting is necessary, your lawyer will request relevant information so he or she can create a contract that is customized to your specific business needs.
Understanding the Implications of a Written Contract
Written contracts often contain standard clauses, usually at the end, called “boilerplate”. Among the boilerplate are “Entire Agreement” and “Amendment” clauses, which state, respectively, that nothing discussed prior, or not included in the contract will govern the contractual relationship and that any amendments to the contract must be in writing and signed by all contracts. Because of these two clauses in particular, and because you cannot force the other party to amend a contract, making sure the terms of your contract are drafted well or appropriately protect your interests is incredibly important.
Do You Need a Contract Lawyer in Toronto?
If you are in search of a lawyer to review or draft your contract in Toronto, contact us at Samuel Osei Law Corporation. At Samuel Osei Law Corporation, we know that business contracts are the most important component of a commercial relationship. We understand that without carefully drafted and negotiated contracts, contractual relationships can be tenuous and are often destined for litigation. That is why we will gladly draft all your business contracts for you. If you’ve already drafted a contractor were asked to sign a contract drafted by another party, we will ensure that your rights are safeguarded. We will even handle any disputes that arise from contractual breaches. So, what are you waiting for? Give us a call today to schedule an appointment with our contract drafting and review lawyer.